1. Large-scale trend: continue to be bullish
From a large-scale perspective, the trend of Bitcoin remains bullish. The current market structure maintains a bullish trend, with key support levels at $86,000 and $90,000. If the price breaks below $90,000, a deeper adjustment may occur, and breaking below $86,000 would signal the beginning of a bearish trend. However, the current bullish structure has not been compromised.
2. Key support and resistance levels
From a technical perspective, Bitcoin found support at the 0.618 Fibonacci retracement level. $92,000 has become a strong support level, while $99,400 is the resistance level above. Although the market momentum is insufficient during the Christmas holiday, the long-term large-scale trend remains bullish.
3. Current operation strategy: gradually build positions
In terms of spot strategy, it is recommended to gradually enter the market when there is a pullback to positions like $92,000 and $96,000. This is expected to be a good layout opportunity before the bull market in 2025. At the same time, some altcoins like BGB, aave, Uni, sui, hype, ray, rsr, cow, etc., can be considered based on Bitcoin's strength.
4. Small-scale trend: opportunities for bearish positions
In the small-scale market, although the overall trend is bullish, the current price is fluctuating within a slight oscillation range, and there may be bearish opportunities in the short term. The current price has broken through $99,000, but strong resistance has formed around $99,500. The MACD indicator shows certain bearish signals, and the formation of multiple tops may lead to a price pullback, with recent upward K-lines showing increased volume, indicating selling pressure above.
5. Small-scale operation suggestions: short opportunities
In the small scale, it is recommended to short when approaching the resistance level of $99,500. The risk-reward ratio for the short position is relatively good, but if the price breaks above $99,500 and stabilizes effectively, a timely stop-loss is needed. If a bullish candle appears at this time, it may indicate a continuation of the upward trend.
6. Market performance of Ethereum
Similar to Bitcoin, Ethereum is still in an oscillating state on a large scale. The current support level is $3,460, and if this position is broken, there may be downward space. In the short term, the price may continue to oscillate, but breaking below key support levels could lead to further pullbacks.
7. Summary and strategies
Overall, the large-scale trends of Bitcoin and Ethereum remain bullish, but a pullback may occur in the short term. In the current market environment, it is advised to gradually build positions during pullbacks and to appropriately engage in short positions within small-scale oscillation ranges. Market fluctuations after Christmas may provide the last layout window for entering gold.
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