Bitcoin ETF saw a net inflow of $428 million over the weekend, providing strong support for the rise in Bitcoin prices.

The price of Bitcoin continued to rise strongly on December 16, with an intraday increase of up to 3.53%, reaching a peak of $106,665, setting a new all-time high.

The market fear and greed index reached 80 (extreme greed), indicating that investor optimism in the Bitcoin market is high.

In the short term, Bitcoin is in a clear upward channel, with the moving average system in a bullish configuration. The 5-day, 10-day, and 20-day moving averages are diverging upward, providing strong support for the price, indicating strong upward momentum in the short term. The RSI is above 70 in the overbought range, showing that the market is in an extremely strong state, but it also means that there may be a risk of a pullback in the short term.

December 16

Bitcoin: Wait for a pullback to buy at 103,500-104,000, target 105,000-107,000, stop loss at 103,000.

Ethereum: Wait for a pullback to buy at 3,890-3,920, target 3,980-4,050, stop loss at 3,850.