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2024/12/21 Night Line Market View
Hello everyone, I'm your cat, here to share my current views.
First, regarding Bitcoin, it needs to close a 4-hour line above 95310, which currently seems fine. However, the strong resistance at 97874 has emerged, and the market is currently consolidating here, indicating there are still divergences or hesitations in the market direction. It can move either up or down. If it moves up and breaks above 97874, pulling back and not breaking 96950, it will continue to rise, potentially reaching 102600. If it continues to be suppressed upwards, pulls back to 95310, and then is pressured again at 96597, it will likely test the bottom once more.
When testing the bottom again, pay attention to whether a new low is made. If no new low is established, the next bottom testing could be your best opportunity to buy in.
Currently, we are in a negative slope line, which counts as 'guessing the bottom to go long.' There is certain risk in buying the dip. For those seeking stability, consider entering long after the 4-hour level recovers to a positive slope.
Ethereum is currently exhibiting a similar trend to Bitcoin, being pressured between 3428-3448. A downward pullback to 3323 that does not break can allow for a rebound, where a 4-hour line might stabilize at 3430.
If you didn't catch the dips today, don’t be discouraged. Most coins are still at the daily bottom, so missing out a little isn't a big issue. Congratulations to those who bought Sui at the bottom today. If you haven't bought Sui at 3.x, don’t chase it now, as the resistance levels ahead are clearly visible in the range of 4.6-4.8. Consider looking at other options.
My personal suggestion is that for those who didn’t catch the dips, you can wait for the 4 PM close and observe the closing situation, or directly wait until the trend becomes clearer before entering the market.
For those stuck with spot positions, check if the spot you purchased supports coin-based positions. Don’t add more funds to increase your position; a 1x coin-based position is significantly more effective than increasing your position size.
Hello everyone, I'm your cat, here to share my current views.
First, regarding Bitcoin, it needs to close a 4-hour line above 95310, which currently seems fine. However, the strong resistance at 97874 has emerged, and the market is currently consolidating here, indicating there are still divergences or hesitations in the market direction. It can move either up or down. If it moves up and breaks above 97874, pulling back and not breaking 96950, it will continue to rise, potentially reaching 102600. If it continues to be suppressed upwards, pulls back to 95310, and then is pressured again at 96597, it will likely test the bottom once more.
When testing the bottom again, pay attention to whether a new low is made. If no new low is established, the next bottom testing could be your best opportunity to buy in.
Currently, we are in a negative slope line, which counts as 'guessing the bottom to go long.' There is certain risk in buying the dip. For those seeking stability, consider entering long after the 4-hour level recovers to a positive slope.
Ethereum is currently exhibiting a similar trend to Bitcoin, being pressured between 3428-3448. A downward pullback to 3323 that does not break can allow for a rebound, where a 4-hour line might stabilize at 3430.
If you didn't catch the dips today, don’t be discouraged. Most coins are still at the daily bottom, so missing out a little isn't a big issue. Congratulations to those who bought Sui at the bottom today. If you haven't bought Sui at 3.x, don’t chase it now, as the resistance levels ahead are clearly visible in the range of 4.6-4.8. Consider looking at other options.
My personal suggestion is that for those who didn’t catch the dips, you can wait for the 4 PM close and observe the closing situation, or directly wait until the trend becomes clearer before entering the market.
For those stuck with spot positions, check if the spot you purchased supports coin-based positions. Don’t add more funds to increase your position; a 1x coin-based position is significantly more effective than increasing your position size.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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