Crypto Market Morning Update🥇🥇🥇2024-12-23
Analysis of Bitcoin and Ethereum trends, wealth codes, long and short ambush points...
BTC 4-hour K-line trend:
Resistance level: around 96824～98430
Support level: around 90525～92548
ETH 4-hour K-line trend:
Resistance level: around 3341～3488
Support level: around 3027～3232
Technical analysis:
1. Bitcoin's 4-hour cycle K-line has seen a volume decrease and is rising (as of 7:03 AM), with volume shrinking, the rebound lacks strength, and the 4-hour cycle K-line is currently following a downward wedge channel trend; please pay attention to the neck resistance level around 98800;
2. Bitcoin's small to medium cycle indicators below 12 hours are resonating with a weakening trend, suggesting short positions at highs;
3. Bitcoin's small to medium cycle MACD indicators are all in weak territory, and the shape has changed (resonating downward trend); the 12-hour MACD slow line is also about to break below the 0 axis, while the daily cycle MACD indicator shows a weak pattern, indicating a price correction is needed, and the price is still expected to be bearish. The short-term strategy is to short at highs, and the best opportunity to enter short positions is when the price rebounds to the small cycle 30-minute, 1-hour EMA60 moving average, Bollinger upper band, double-top resistance, or important neck resistance levels🥰; if a bottom divergence pattern occurs in the small cycles of 15 minutes or 30 minutes, consider light long positions as well; long positions are counter-trend, and the principle of quick entry and exit is advised🥰 (please set stop losses and secure measures with the three steps for risk management) {Contract Thinking};
Short-term operational thinking: If the price corrects to the important support levels marked above, light long positions can be set {Spot Thinking};
Investment has risks, and caution is needed when entering the market; the above analysis is for reference only! You can also make corresponding arrangements for altcoins based on Bitcoin's correlation effect!
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