Zhou Yanling: What to do when Bitcoin jumps around like a roller coaster on December 4th? Ethereum faces resistance in the upward movement.
In terms of the recent market conditions, do not have any thoughts of a trend. The key is to take profits in a timely manner when prices rise and fall! The methods of shaking out and liquidating retail investors are too obvious. Even Yanling was swept today without any surprises. The short position taken was correct, but greed led to the desire to continue looking down at the 93000 mark, resulting in a rebound that came too quickly. The profits in hand were not realized, and instead, I was stopped out. It really made me furious. I have learned my lesson now; I won’t be so greedy in the future. Just look at the way this market is swinging; every upward surge feels like it might break to the upside, while the downward movement will give you the illusion of a significant drop. Therefore, do not blindly believe in the rapid fluctuations you see. Why does the market rise and fall quickly? In fact, this is considered normal fluctuation behavior in the cryptocurrency market. If the price movements in a fluctuating market were always very slow, then the current cryptocurrency prices would have no trading value or necessity.
At this point in the market, how to trade becomes particularly important, especially as the non-farm payrolls approach. Perhaps the fluctuations in recent days are laying the groundwork for the non-farm payrolls. From the analysis of market trends, recent candlesticks show significant volatility, especially the long upper and lower shadows on December 2, indicating intense competition between bulls and bears in the market. The recent candlesticks alternated between bullish and bearish, and the prices are fluctuating at high levels, showing that market sentiment is not very stable. In the 4-hour cycle, the MACD histogram turned positive from negative and then returned to negative, indicating short-term retracement pressure. The DIF line and DEA line are close to the zero axis but have not formed clear golden cross or death cross signals. The RSI is hovering around 50, slightly below the overbought range, indicating that the current market is in a neutral to weak state. The price is currently below EMA7, while EMA30 and EMA120 are both above it, indicating a bearish short-term trend, but there is still some support and signs of upward movement in the medium to long term. In terms of operation, Yanling suggests focusing on short-term trades, with particular attention to the resistance above at 97500 and 99000, and the support below around 93000.
12.4 Bitcoin operation strategy:
1. Long position at 94000-94600, stop-loss below 93500, target 96500-97000.
2. Short position at 97400-96800, stop-loss above 98000, target 95000-94400, continue to look for a break below 93500 and around 92400.
12.4 Ethereum operation strategy:
1. Short position at 3660-3620, stop-loss above 3700, target 3540-3500, continue to look for a break below around 3390.
2. Long position at 3440-3480, stop-loss below 3360, target 3560-3600.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategy may not be timely. Specific operations are subject to Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contracts/spot operations. If you want to learn more about real-time community guidance, consultation on breaking even, trading techniques, etc., you can follow the teacher's public account: Zhou Yanling to find the teacher.
