Crypto Scholar: Bitcoin Returns to the 100,000 Mark on 12.19! When Will the Long Positions Be Cleared?
The current price of Bitcoin is 102,000, and it is currently 4:20 AM Beijing time. Powell just finished speaking, and the main force took the opportunity to clear the long positions. Bitcoin has once again returned above the 100,000 mark. Yesterday, I mentioned that the greed index soared to 87. Many fans do not understand that every time the greed index exceeds 85, there is a high probability that the main force will clear positions. Although the layout around 108,000 eventually took profit at 104,100, that's okay; a 3,900 point gain is already good. Let's take a look at the current market.
The daily K-line reached a high of 106,130 and a low of 100,800, perfectly retracing to the EMA15 trendline support at 101,000. Keep an eye on the next EMA30 key support point, which is also a long position testing point at 97,000. Just set a stop-loss and be defensive. As long as it retraces and does not break 103,000 before the market closes at 8 AM, then the MACD contraction will become a certainty, and the DIF and DEA dead cross will take shape. The main force will likely oscillate around the 100,000 mark. The deeper the retracement, the more objective the space for the bulls. As long as the larger trend remains unchanged, treat all retracements as a trap for shorting.
The four-hour K-line has seen three consecutive declines and has reached the EMA90 trend support at 101,000. Friends in the coin market who are entering orders here should remember to set a 300 point stop-loss; safety first. Pay attention to the EMA120 key support at 99,750. Those who have not entered can test their positions here. The MACD is continuously contracting downwards, and the DIF and DEA are expanding downwards towards the 0 axis. The overall trend is very clear: short positions are clearing long positions. The main force is taking profits and reversing near 108,000. The strategy is to wait for clear support before starting to go long. Aggressive traders should not be greedy with short positions; take the profit when it's good, and after encountering resistance on the retracement, you can short for a swing.
Short-term strategy reference: The market is never 100% certain, so always set a stop-loss; safety first. The goal is to minimize losses and maximize gains.
Long position testing points at 99,000 and 98,000, defense at 97,000, stop-loss at 500 points, and target between 100,000 and 101,500; if broken, look at 102,000 to 103,000.
Short position testing points at 102,500 to 103,000, stop-loss at 500 points, and target between 102,000 and 101,000; if broken, look at the 100,000 mark.
I am a crypto scholar, a warrior who has always protected the retail investors. I wish my fans financial freedom in 2024. Let's keep fighting together!