December 25th Afternoon Market Outlook

Yesterday's market saw a strong rebound after testing the bottom, with fluctuations during the day. After the US stock market opened, Bitcoin rose to around 99,500 in the early morning, and Ethereum reached the 3,540 level, before retracing after the market closed at 2 AM. Today, the US stock market is closed for Christmas, which may reduce market activity and limit volatility. Currently, Bitcoin has touched 99,000 again, and bulls hope for further strength.

Looking at the 4-hour chart, the Bollinger Bands are trending upwards, with bulls accumulating strength. The K-line is retracing at the EMA220, while the EMA30 and the middle band of the Bollinger Bands provide strong support below, with the critical level at 3,400 holding steady. Attention is on the EMA120 resistance at 3,600 above. Although MACD volume has decreased, when combined with the hourly chart, if the intraday retracement is slow, with a weak convergence of the fast and slow lines, the market trend may continue into the night, with the potential for another rise.

Trading suggestion: Go long on Bitcoin at 97,900 - 97,500, targeting 99,500 - 100,000; Go long on Ethereum at 3,480 - 3,460, targeting 3,530 - 3,550.

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