2024.12.20 9:24 AM BTC/ETH Market Analysis
That night, 7.7 billion CNY in liquidity was captured, with 269,118 people liquidated to zero! The amount has increased somewhat, and the number of people has basically doubled. It must be noted that those who wish to catch the absolute bottom are dreaming. The downward trend has not yet arrived; we are in a stage of gradually building positions, and the right-side rebound is the time to profit, so do not get caught in the vortex of thinking that once you buy in, it must go up!
There is no market that only goes up without going down, and there is also no market that only goes down without going up, so just maintain patience with spot trading!
BTC Focus
Support 95,700-95,800 / 93,000 / 91,800 / 89,500
Resistance 100,000 level
At this moment, BTC shows some slight rebound signals on ultra-short lines daily, but even medium-term reversal signals are currently absent. The daily K-line is accelerating its bottom exploration under the condition that all short indicators are in a bearish state!
ETH Focus
Support 3,300 / 3,115
Resistance 3,545
The key point at this moment is 3,440, and currently, the bears are strong. Let's see if it can stand above this level again today! If it can't, this will be the new starting point for a decline!
Today is Friday; the market has fallen for two consecutive days. Having gotten used to the wave of bullish sentiment from November 5 to the end of November, it has not yet changed. This result is indeed disappointing, but this is precisely the outcome that the main force wants to achieve. Only absolute pessimism and despair can lead to a large amount of panic selling and cheap chips being offloaded. This way, the indecisive chips will be completely washed out!
Those who are not suitable for chasing highs, who are fully invested in chasing highs, are the most passive. Those who enter in batches, with patience to add positions, should follow the market's rapid push for long positions and sharp declines to layout cheap chips. The emotion at this moment is consistent with the sentiment before the reversal in early November when most altcoins were about to break down. After the sharp decline and violent washout, let's look forward to a better rebound!