Track real-time hotspots in the cryptocurrency world and seize the best trading opportunities. Today is Tuesday, December 3, 2024, I am Wang Yibo! Good morning to all crypto friends ☀️ Die-hard fans check in 👍 Like to make big profits 🍗🍗🌹🌹
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Overnight US stocks closed mixed, with the Dow down 0.29%, the Nasdaq up 0.97%, and the S&P 500 index up 0.24%. Both the Nasdaq and S&P 500 index reached new historical highs again. The cryptocurrency market saw more declines than gains, with Bitcoin's drop linked to Ethereum and some altcoins, causing panic in the market. Many people are searching for news and consulting 'experts', and of course, there are many who are cutting losses. In fact, most of the people cutting losses are those who recently bought at highs. If you had set up your position in advance, you wouldn't need to panic at this moment, but rather choose to buy the dip. The coins that have experienced deeper declines are mainly concentrated in the meme sector and governance tokens. There are various opinions on this current pullback; some say it's because Bitcoin has been reluctant to break through $100,000, with $99,588 being seen as the historical top; others point to the Syrian civil war, tense Middle Eastern situations, and the escalation of the Russia-Ukraine conflict. However, these are not the real reasons. The biggest factor is that a series of economic and financial data from the US will be released in December, which will affect whether the Federal Reserve will cut interest rates. This fluctuation can also be seen as a tool for whales and institutions to shake the market. This volatile trend is also a prelude to sector rotation.
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On Monday morning, Bitcoin surged to a resistance level of 98180 before falling back. In the afternoon, it retraced to around 94836 and then began to rebound. In the evening, Bitcoin rallied to recover to around 97400 but faced resistance again, dropping to around 94440 and then rebounding to hover around 95000. According to the four-hour chart's retracement space, the current pullback can still be viewed as a correction. The last large bullish candle's bottom serves as the critical point for bulls; as long as it stays above this level, the market will remain in a strong consolidation pattern. From the current structure, the market's strong characteristics are still evident, and the local pullback is also building strength for bulls. On the hourly chart, after a period of pullback and consolidation, the market has digested the overbought pressure from the sub-indicator, and the short-term trend has slightly slowed down but is entering a rebound recovery trend. Do not easily consider short-term pullbacks during the consolidation phase as a trend reversal. The overall direction remains bullish; it's just a matter of a consolidation period. Our outlook for the future remains bullish, focusing on buying the dips and going long at lower levels.
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Ethereum's movements and trends are synchronized with Bitcoin. In the morning, it faced resistance at around 3767; in the afternoon, it dropped to a low of 3573 before rebounding. In the evening, it recovered to a high of 3684 before dropping again to test the bottom at 3558, which it did not break. Currently, it is operating at around 3620 in a small structure! From the current chart, the daily line shows alternating bullish and bearish trends, entering a high-level consolidation pattern in the short term, fluctuating repeatedly within the range, with the lower support not broken and the upper range high not exceeded. The current daily line is entering a state of high-level consolidation. On a smaller timeframe, the chart's movement leans towards the upper boundary, but there is intense tug-of-war between bulls and bears, requiring a combination of market space and patterns. If the key support level of 3530 is not lost, the short-term bullish outlook remains unchanged. Currently, the bearish volume has not ended, and the market is experiencing significant volatility, with plenty of short-term opportunities available for flexible strategy adjustments based on the actual market situation, offering chances for both bulls and bears.
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💎In this market, it ultimately comes down to ability. If your ability is insufficient, the market will eventually demand a return. Therefore, when your wealth exceeds your ability, you need to control your drawdown, though this control may be in vain, as that kind of arrogance and hubris from profits will ultimately destroy a person's rationality. However, we do not have to worry about the situation where our wealth is lower than our ability in the capital market, because such imbalance will eventually be corrected by time. If it has not been corrected, there is only one reason: your ability is insufficient. If you are still in a state of confusion, not understanding technology, unable to read charts, not knowing when to enter, unable to set stop-losses, not knowing when to take profits, randomly increasing positions, getting stuck by trying to catch the bottom, unable to hold onto profits during volatility, and missing out when the market comes, these are common problems among retail investors. But it doesn't matter, come to me, and I will guide you to think correctly about trading. A single profitable trade is worth a thousand words. Rather than facing repeated failures, come find Yi Bo! Frequent operations are not as good as precise single trades; make every trade valuable. What you need to do is find Yi Bo, and what we need to do is prove that our words are not false. 24-hour real-time guidance, the market's volatility is relatively fast. Due to the effectiveness of review, for the subsequent market trends, we focus on real-time setups. Friends needing contract guidance can scan the QR code below the article to add my public account.
