BTC Analysis for December 12
- Daily Frame (D1): Yesterday's daily candle closed green, full power. 6k price from 95-101k. However, BTC is still in a downward trend on the daily frame and has not yet broken out. However, the Bollinger Bands are starting to widen, signaling that the BTC sideways zone is about to end and BTC is about to have a new breakout.
- 4-Hour Frame (D4): After the previous red D4 candle, which was very bad, breaking above the 101k zone has made the D4 candle model look very nice, and if it can maintain the price above 100k when the candle closes, BTC will definitely soon have a new peak.
- Weekly Frame (W): BTC is actively pulling up green to break the last part of the double top bearish model in the weekly frame. There are still 3 days left until the W candle closes, so let's continue to monitor.
=> Analysis:
- As I mentioned yesterday, when BTC broke the resistance at 98300, it definitely signaled continued price increase. All indicators across larger and smaller frames look very good, and we expect BTC to break the downward trend in the daily frame to pump strongly.
- However, this morning, when BTC is still in the 101k zone, one of my indicators continuously points down, indicating a very high possibility that BTC will return to the 98-99 range.
- I am still very weak in terms of discipline; sometimes I trade and still get FOMO, overlooking technical indicators. So when there is a bad indicator like that, I’m informing everyone in the morning post to warn you to avoid FOMO Long like me today.
- I still view BTC going up, and if BTC tests the 98-99 range, it will just be a test of the resistance zone according to technical analysis. After that, BTC will rise very quickly.
- Please refer to my personal analysis.