Bears are making their move as expected, continue to ambush for shorts on the rebound! 12.28 Bitcoin trading strategy

Yesterday, the price of the coin first fell to around 95000, decisively entering long positions. As the evening session approached, the price surged to 97500 and then retraced, providing a reminder for shorting. Short positions gained substantial profits, with Bitcoin gaining over 3000 points and Ethereum gaining nearly 150 points!

From a technical perspective, the daily chart shows two consecutive bearish candles, and this morning's candlestick has a long upper wick. The Bollinger Bands' middle and lower bands are moving downwards. The KDJ three lines are running smoothly above the 20 axis, and the MACD double lines are diverging downwards for the second time, with volume increasing again. The bearish sentiment on the daily chart is strong!

On the four-hour chart, the Bollinger Bands are opening, and the middle band is suppressing the price, which is running near the lower band. The KDJ three lines have turned upwards from a low position, and they are currently in a convergence state with signs of a golden cross forming. The MACD death cross double lines are diverging downwards continuously, with volume gradually increasing. The four-hour chart also shows that bears have the upper hand, but there is a demand for a rebound in indicators, so a slight rebound is expected within the day!

Overall, the price is under bearish pressure, so for day trading, Conan suggests focusing on shorting at high positions! Key resistance levels to watch are 95700, 97000, 98500, 99500, and the 100000 mark. Support levels to watch are 93500, 92500, and 90700.

12.28 Bitcoin trading strategy: Aggressive traders should enter shorts near 95700, while conservative traders can enter around 96500-97000, with a stop-loss near 97800 (can be adjusted reasonably based on personal position). The target is around 94000-93400, and if broken, watch for levels around 93000-92500-92000.

Long strategy: Attempt to go long near 93000, with a stop-loss near 92500. The target is around 94000-94500, and if broken, watch around 95000-95700.

12.28 Ethereum trading strategy: Enter short at 3400-3420, add positions near 3450-3480, with a stop-loss near 3530. The target is around 3350-3300, and if broken, watch around 3250-3200-3150.

Long strategy: Attempt to go long near 3250, with a stop-loss at 3200. The target is around 3300-3350, and if broken, watch around 3380.

Recently, funds in the spot market have been withdrawing, and U.S. stocks have been declining for two consecutive days. The strength of the price rebound is also gradually weakening. Currently, it seems difficult for the price to have a significant rebound unless there is a large influx of funds into the market to boost prices! The gradual withdrawal of funds may be a strategy to wait for Trump to take office before making bets. Currently, market sentiment is low, leading to profit-taking! Therefore, those going long should not be greedy!