The bullish momentum on the market has slowed down, be wary of a pullback to repair indicators! Analysis and strategy for Bitcoin on 12.17
The long position suggested yesterday perfectly matched the market trend! Bitcoin gained over two thousand points, and Ethereum remains held for the medium term! Bitcoin surged again yesterday, reaching a historical new high, peaking at around 107773! Ethereum also reached a recent new high, peaking at around 4110!
From a technical perspective, there have been four consecutive bullish daily candles, with a long upper shadow this morning, closing above the upper Bollinger band, the Bollinger bands are opening up,
The moving average indicators are arranged in a bullish manner, with KDJ's three lines forming a golden cross upwards, currently the fast line is slightly slowing down, and MACD is turning upwards from a low level, initially forming a golden cross. The daily bullish trend is strong!
On the four-hour chart, the Bollinger bands are opening, the price of the coin is running below the upper band, the middle band continues to move upwards, KDJ's three lines are sticking together at a high level, and MACD's two lines are diverging upwards, but the volume indicator is slightly shrinking! This indicates a slight slowdown in bullish momentum, so Conan does not recommend chasing long positions at high levels! Be wary of pullback risks! For intra-day operations, Conan suggests focusing on long positions during pullbacks! Short positions should be secondary to high-level ambushes! The upward pressure levels to watch are 108000, 109000, and 110000, while the main support levels to focus on are 105500, 104000, 103000, and 101500.
Bitcoin's operational thoughts for 12.17: Aggressive traders can enter around 105000 for long positions, while conservative traders can enter around 103500-104000, with a stop loss near 103000, targeting around 105500-106000, if it breaks, aim for 106500-107000-107500, and if there is a strong breakout, hold 30% of the position and gradually move to the next thousand mark!
Short position thoughts: Enter short around 107500-107800, with a stop loss near 108300, targeting around 107000-106500-106000, if it breaks, target around 105500-105000, and if there is a strong decline, hold 30% of the position to target around 104500-104000-103500.
Ethereum's operational thoughts for 12.17: Aggressive traders can enter long around 3900-3950, while conservative traders can enter around 3850, with a stop loss below 3800, targeting around 3950-4000, if it breaks, target 4050-4100, and if there is a strong breakout, target around 4200-4300.
Attempt to short around 4100, with a 40-point stop loss, targeting 50-80 points!
Ethereum has seen slight gains in the medium term; if Bitcoin consolidates at a high level, Ethereum is expected to follow suit! For medium-term positions, one can patiently hold and gradually move stop losses to preserve profits! Friends who don’t understand or are struggling can trust Conan's ideas, let’s push together and reach the shore! $BTC