12.02 Monday Evening Market Overview:

BTC surged to 98K in the morning and then continuously declined, with three large bearish candles on the 4H chart bringing the price down to 94822, but the volume increased during the drop, indicating a divergence between price and volume.

When I was drawing the chart in the afternoon, the Gartley pattern had not yet completed, meaning the D point had not yet formed. However, I had already positioned a buy order at the D point of the Gartley pattern at 95537; any formation of a pattern allows us to use Fibonacci to find the D point position once the B and C point data is confirmed to determine what kind of pattern it is. Trading should always be done in advance rather than waiting for the formation to enter, as this could lead to missing opportunities due to price spikes. In the afternoon, the price dipped to a low of 94766, which was about 800 points below the D point of the Gartley pattern, but it is impossible for anyone to enter without any margin of error. Currently, it is slightly profitable, with the first take profit at 96715, the second take profit at 97442, and the stop loss set at the X point.

ETH has already made a genuine break below the trend line as mentioned in the afternoon, with two retests of the first support at 3584 resulting in a rebound. During this correction of BTC, ETH still shows strong momentum, as liquidity has shifted towards ETH, so it hasn't been significantly affected. Resistance is at the swapped support levels of 3646 and 3717, while support remains at 3584 and 3538.

Let’s talk about Dogecoin WIF again: In the morning, we said WIF had completed the shark and butterfly patterns, and in the afternoon, the chart showed the completion of the butterfly pattern and an unfinished Safi pattern. I had also positioned a buy order at the D point of the Safi pattern at 3.086, which is currently slightly at a loss, with the first take profit at 3.234, the second take profit at 3.325, and the stop loss at the X point; at the same time, my spot position was also entered at 3.086, and the spot contract is not delayed.

The U.S. stock market opening later is very important, as it directly determines the trend from tonight to tomorrow daytime. If the U.S. stock market opens high, it will definitely pull BTC back to around 98K, and then it will break new highs to 100K. If it opens low and continues to fall, BTC will go down to around 94K deeply, with a major correction to the previously mentioned 89K–86K.

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