24/12/27 BTC rising channel is under pressure again, there is still one last drop for the medium to long term, how to seize the Spring Festival explosive market!
Bitwise has submitted an ETF application for the 'Bitcoin Standard Company' to the US SEC. This fund aims to provide exposure to stocks of companies that adopt the Bitcoin standard and hold at least 1000 BTC in financial assets. (Cointelegraph)
Bitcoin is about to close the year, quarter, month line, and even the weekly line is only 2 days apart, the volatility is quite large and is still in a downward trend. The total value of the largest ever Bitcoin options contracts reaches $14 billion, expiring this Friday, which may trigger drastic fluctuations that need attention.
Bitcoin
The Bitcoin rising channel is under pressure again, and if the rebound cannot break through 0.382 and falls back, it will test the support near 92232 again. The daily line is in a B-wave fluctuation, and if it breaks 92232, the C-wave decline will start. The medium to long term layout still needs one last drop, and for spot, it is recommended to layout in batches during the decline. Specific layout points can be consulted internally.
The 4-hour chart has filled the 96678 CME gap. Focus on the support lines connecting 90500 and 92232, which can be traded short if not broken. If it breaks, we may need to enter a C-wave decline.
Support:
Pressure:
Ethereum
The rebound still hasn't effectively stood above 3500 and remains bearish. The spot strategy still sees opportunities for bottom fishing in batches as it declines. The positions received around 3150 are being held.
The 4-hour short-term has a rebound, but we need to see how long it will fluctuate here. Like Bitcoin, there is support in the short term, but the rebound strength is poor. Patiently wait for the Spring Festival red envelope explosive market. Since 2020, we have seized opportunities every year, and I believe this year will be no different.
Support:
Pressure:
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