2024.12.20 Market Analysis

Bitcoin Daily

Resistance around 100000

Support around 90500

Yesterday, Bitcoin experienced a significant correction. The resistance we provided was around 102500, and it rebounded to a maximum of around 102800. The support level was around 97000, and it fell to a minimum of around 95700, which was in line with our expectations. Yesterday, Bitcoin officially broke below the lifeline. The next three days are crucial; if their closing prices remain below the lifeline for these three days, it may continue to decline. This drop could last for a while, so do not easily go long. If you do go long, make sure to enter and exit quickly. Recently, the trading strategy for Bitcoin is to short on rallies. Those who followed the short position yesterday should have made a good profit. Wishing everyone a happy and enjoyable Friday.

Ethereum Daily

Resistance around 3590

Support around 3220

Yesterday, Ethereum also experienced a significant correction, with fluctuations exceeding 10%. The resistance we provided was around 3800, and it rebounded to a maximum of around 3720, just shy of the resistance level, which was basically within expectations. We also advised those who went long to take profit around 3700 yesterday. Today's resistance is set at around 3590, and the support is set at around 3220. The daily line has also broken below the lifeline, and the drop in Ethereum was beyond expectations. This correction is for a better upward movement; opportunities always arise from declines. Those who are going long must also enter and exit quickly, without being greedy. The monthly trend is still upward; there is no need to worry. Wishing everyone a happy and enjoyable Friday.

The above information is for reference only and does not constitute investment advice.