Crypto Circle Liying: Bullish Confidence Shaken on 12.22! Should the Bitcoin Bottom-Fishing Strategy Be Adjusted? Latest Market Analysis
Article Published on 2024.12.22—1:20 PM
Current Bitcoin Price: 96,200. After a day of team-building over the weekend, although not many people attended, all essentials were covered. This week saw two consecutive instances of bottom-fishing being stopped out, but overall, a profit space of 26,000 points was achieved. When bottom-fishing twice leads to being stopped out, one must start to question whether the bulls are still present. The mindset should not be limited to just going long or short; rather, when trading signals appear at certain price levels, one should act regardless of the bullish or bearish sentiment.
From a price trend analysis, the current candlestick pattern clearly indicates a downward trend, especially with significant bearish candles appearing on the 20th and 21st. In the 4-hour cycle, prices have pulled back from a high and formed short-term support around 96,000. The current MACD histogram is positive, but both the DIF and DEA are in the negative territory, indicating strong bearish pressure. Attention should be paid to whether a golden cross signal may appear.
The Relative Strength Index (RSI) is currently around 38, nearing the oversold range, suggesting potential rebound demand, but overall it remains weak. The trend indicators EMA7, EMA30, and EMA120 show a bearish arrangement, and prices have fallen below all major moving averages, indicating sustained downward pressure. Daily trading volume has decreased after peaking on the 20th, suggesting reduced selling pressure but no significant increase in buying interest. In the 4-hour cycle, trading volume is quite volatile, indicating fierce competition between bulls and bears. The current market is suitable for swing trading, and as prices approach lows again, one can begin to go long, considering short positions only after stretching to the resistance level.
Today's Liying Point Forecast
Long Entry Point: 95,000; Add Long at 94,000; Stop Loss at 93,500; Target at 98,500
Short Entry Point: 98,000; Add Short at 99,000; Stop Loss at 99,500; Target at 96,500
The above is a brief analysis by Liying regarding the current market situation for reference by investors $BTC #比特币行情分析
