Crypto Circle Yuelin 12.13 Friday, Bitcoin, Ethereum Evening Strategy!
Dear friends in the crypto circle, good evening to everyone, I am your lucky goddess Yuelin. Since the 5th, the market has experienced two stages of deep washout, and we do not rule out the possibility of a third larger cycle pullback before the interest rate meeting, so we need to be vigilant! Although the CPI data on Wednesday was favorable and indirectly boosted the market, as long as the interest rate cut on the 18th has not materialized, we will still experience a large cyclical adjustment, so we just need to follow the cyclical trading. On the 11th, Ethereum was in an upward phase; as long as you followed the posts and took long positions, the returns were quite considerable. The daily support was also at 3505; it rebounded without breaking through, and if it breaks through, we can only operate in line with the trend.
From the 4-hour chart of BTC: From the larger direction, the two downward spikes have already broken the trend line. Looking at the significance of the trend line now is not very meaningful; as long as it moves in a wide range, we can predict key resistance based on technical indicators. Currently, the technical indicators OBV and KDJ are all turning downward, indicating a strong bearish outlook, especially after last night's 4-hour divergence closing in the red, the market has been in a stagnant state during the day. Looking back after the 21st of last month, the market formed resistance around 98300 multiple times; as long as it touches the upper resistance line, it will rebound downward. Currently, the Fibonacci support point is just at 98401, overlapping with the previous resistance line, so this is the strong support position. If it breaks through, we look at the 97400 waistline position, so we can directly short above 98300!
Friday evening trading strategy:
BTC: 100500-101000 short, target 98300
ETH: 3935-3955, target 3850
The above ideas are just Yuelin's personal trading logic and should not be used as investment advice for anyone, for reference only. The market is constantly changing, and specific operations should be based on the market situation. The data is time-sensitive. If this article helps you, following and liking is your support and affirmation for me.