12.19 Thursday Bitcoin and Ethereum Morning Market Analysis
In trading, whether it’s a significant fluctuation or a volatile market, the key lies in accurately seizing opportunities.
From the daily structure analysis, Bitcoin has experienced a pullback after reaching a high, showing a pattern of upward and downward wicks. However, the current low of the pullback happens to be the previous high, so this cannot be regarded as the beginning of a market reversal. After all, the recent decline in Bitcoin's price has specific reasons. In terms of the current shape, after a significant decline, Bitcoin is likely to undergo an adjustment first, probably a correction in terms of time. Once the adjustment is complete, Bitcoin’s price will re-enter a phase of recovery. From the four-hour chart, as the highs continue to rise, it further highlights the overall strong pattern. Currently, the downward trend mainly presents itself in the form of wicks, so we just need to wait for Bitcoin's price to complete its correction before it rises again.
Morning Trading Suggestions:
For Bitcoin, you can go long directly in the range of 100500 - 100000, with a target of 105000.
For Ethereum, go long directly in the range of 3670 - 3650, with a target of 3800.
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