12.13 BTC, ETH Evening Analysis: Periodic Adjustment Ends, Focus on Short Positions

Since the 5th, the market has gone through two stages of deep washing, and a third larger-level periodic pullback before the interest rate meeting cannot be ruled out, so caution is advised! Although the CPI data on Wednesday was favorable and indirectly drove the market up, as long as the interest rate cut on the 18th has not materialized, the market will still undergo a large periodic fluctuation adjustment, so we can just follow the periodic trading. On the 11th, ETH was in an upward phase; as long as you followed the posts and took long positions, the returns were quite considerable. The daily support was also at 3505, and it rebounded without breaking through; if it breaks through, we can only operate according to the trend.

From the 4-hour chart of BTC: Looking at the overall direction, two downward spikes have already broken the trend line, so it is no longer meaningful to look at the trend line. As long as it does wide fluctuations, we can predict the key resistance based on technical indicators. Currently, the technical indicators OBV and KDJ are all turning down strongly bearish, especially after last night’s 4-hour divergence closed with a downward candle, the market has remained in a state of stagnation throughout the day. Reviewing the resistance formed around 98300 multiple times since the 21st of last month, as long as it hits the upper resistance line, it will rebound downwards. Currently, the Fibonacci support level is exactly at 98401, overlapping with the previous resistance line, so this position is strong support. If it breaks through, we will look at the 97400 waist line, so we can directly short above 98300.

BTC Evening Strategy: Short at 100500-101000, target near 98300!

ETH Evening Strategy: Short at 3935-3955, target near 3850!