211226 Yu Dong Analysis
Bitcoin BTC
From a daily perspective, the current price is around 98,300, with a 24-hour high of 99,963.70 and a low of 97,632.02. The current price is below the middle band of the Bollinger Bands (99,731.94), indicating short-term downward pressure. The 7-day moving average is around 97,360, and the current price is slightly above this level, suggesting that the short-term trend is relatively stable. From the long-term perspectives of the 25-day and 99-day moving averages, the bullish trend still exists, but short-term fluctuations are inevitable.
Moreover, the fast line in MACD is below the slow line, and the histogram shows that bearish momentum is weakening. We'll see when the golden cross can form.
The current RSI is around 48, in the neutral zone, with no obvious bullish or bearish trend.
Currently, the recent low of 97,000 serves as a support level. If it breaks through, we need to observe the support situation at 94,300, the lower band of the Bollinger Bands.
Needless to say, 100,000 is definitely a key psychological resistance level. If it breaks through, we could see 105,000.
From the hourly perspective today, the fast line is still below the DEA, and short-term fluctuations are expected. The RSI is around 47, which is neutral but weak, with unclear bullish or bearish direction.
Today's small cycle support is at the recent 24-hour low of 97,632, followed by support at 96,500. The resistance level is seen at the middle band of the Bollinger Bands at 98,666.
Short-term fluctuations continue; it's better to operate with light positions and not to be greedy. Focus on key support and resistance levels, and wait patiently for the trend to emerge.
Today is the last day of the Christmas holiday for Europe and the US. Tomorrow evening, traders from Europe and the US will be back from vacation, and we can expect a strong rally :)