2024.12.19 Market Analysis

Bitcoin Daily

Resistance level around 102500

Support level around 97500

Yesterday, Bitcoin experienced a significant pullback, dropping to around 100000. I believe those who shorted yesterday made a good profit. Today's resistance level for Bitcoin is set around 102500, with the support level at the critical line of 97500. It's advisable not to go long on Bitcoin easily; it is likely to continue its pullback. You can short near the resistance level, maintaining the strategy of shorting at highs. This pullback may last for some time. For those who have been going long recently, remember to enter and exit quickly, don't be greedy, and secure your profits. Wishing everyone a pleasant Thursday.

Ethereum Daily

Resistance level around 3800

Support level around 3560

Ethereum also followed Bitcoin's pullback yesterday, dipping to around 3617. The pullback strength exceeded expectations. Today's resistance for Ethereum is set at around 3800, with the support level at 3560. Today is quite critical; if the daily life line support doesn't hold, it will continue to drop. The pullback of Ethereum is a good thing; ideally, it could pull back to the weekly 10-day line around 3400, because the overall trend is still upwards, so there’s no need to worry about the decline. Opportunities always arise from drops. This week’s strategy for Ethereum is to short at highs. If you have long positions, remember to enter and exit quickly, don't be greedy. Wishing everyone a pleasant Thursday.

The above information is for reference only and does not constitute investment advice.