12/13 Thoughts
Bitcoin surged to 102500 during the night but then faced resistance and fell back, finding support around the low of 99300 before rebounding again. Currently, the price of the coin is around 100000. Looking at the current trend, both bulls and bears are competing fiercely, but neither side has formed a coherent trend, fluctuating overall within a certain range.
From the daily chart analysis, after a large bullish candle stretched, it was followed by several small bearish candles for adjustment, with the price maintaining below the upper boundary, indicating that the bullish momentum appears to be somewhat lacking. Referring to the 4-hour chart, after a series of consecutive bullish candles, the price faced resistance at the upper boundary and then saw a significant bearish candle pullback, showing a short-term bearish trend. Currently, bullish strength is weakening, and there is a trend for bears to continue pushing down. Therefore, in the short term, it is important to pay attention to the support level at 99000; if this level is breached, the next target would be 97000; if not breached, a rebound upwards could be possible, and it may be worth considering a long position.
Regarding morning trading strategies,
Bitcoin shorts can be placed around 101500-100800, with a target set in the range of 99000 to 98000; if the price drops and does not continue to decline, a long position can be considered.
For Ethereum, short positions can be considered around 3950-3980, with a target focusing on the 3800 area.
