24/11/29BTC monthly line is about to close, and it will hit 120,000 US dollars in December. How to plan for the Spring Festival red envelope market!
The monthly line of Bitcoin is about to close. As of the time of writing, the amplitude was 46.38%, with an increase of 36.65%. The amplitude of Ethereum was 51.79%, with an increase of 39.68%. The general direction is still bullish. If the short-term shock and correction are good, it will hit 120,000 US dollars in December. Ethereum will first break through the previous high of 4868 and reach 6000, there is a chance.
We have grasped the Spring Festival market every year from 20 to 24, and we believe that there will still be a red envelope market during the Spring Festival in 25 years. There will be another 25 basis point interest rate cut in December, and the current probability is 70%. Trump will move into the White House on January 20, and Ethereum Pectra will be upgraded in the first quarter of 25 years.
Bitcoin
After a pullback from 99588 to 90800 over 4 days, it has retraced to the previous triangle structure and bounced back from MA20. A short pullback of about 8 points is considered a normal correction. The BOLL narrowing indicates another opportunity for an upward rebound. The 4-hour MACD fast and slow lines are crossing down and still need adjustment, specific situations will be noted in the daily video analysis (text analysis is unclear).
4 hours
Yesterday's rebound at 97200 faced resistance and declined, but found support around 94600 and rebounded. It also tests the previous ascending channel's resistance; a breakthrough could present opportunities between 98000—98500. There is a head and shoulders bottom pattern on the 4-hour chart; pay attention to whether the neckline can break through.
Support:
Resistance:
Ethereum
The weekly chart has just rebounded to below this year's highest point and the second highest resistance line, whether it can effectively break through is very crucial. The daily chart is still oscillating within a expanding triangle, yesterday it formed a doji star, and a short-term pullback is expected to continue the rebound.
The ETH/BTC exchange rate rebounded yesterday and touched the previous resistance at 0.038. We still need to see if it can stand back above this level to favor Ethereum's rebound.
Support:
Resistance:
