December 27, Bitcoin shows a pullback again, should we escape or increase our positions?
Yesterday's Review
BTC: Yesterday's low was 95153, high was 99950, with a volatility of 4979 and an amplitude of 4.8%.
ETH: Yesterday's low was 3302, high was 3514, with a volatility of 212 and an amplitude of 6.0%.
Today's Interpretation
BTC: Currently, Bitcoin is at 96000, after falling yesterday, the rebound has been weak, entering a consolidation phase, which is not a good sign, likely a continuation of the downtrend. Pay attention to the support level at 95000; if it breaks down again, it may test 92500!
Bitcoin short-term resistance: 98000
Bitcoin short-term support: 95000
ETH: The current price of Ethereum is 3363, after breaking the converging triangle, it just rebounded to the resistance level and started to pull back again. The support below is at 3200. Watch the trends in the next couple of days; if it cannot break 3400, it will quickly drop to 3200!
Ethereum short-term resistance: 3400
Ethereum short-term support: 3200
Summary
The current strategy still does not advocate full positions. After adding positions at each low, sell off in batches once a rebound exceeds 10%; if the selling point is reached and a pullback of 5% occurs, liquidate all added positions to ensure capital safety. The high point for Bitcoin has been reached; we need to find the next high point to confirm the downtrend.
