On 24/12/22, BTC daily line closed as a doji star. It's a downward continuation waiting for the weekly line to stabilize, a bottom-fishing opportunity before the Spring Festival market!
Trading volume on Saturday and Sunday is sluggish. After three consecutive declines, it rebounded to 99540 before facing pressure and falling back. There was no effective breakthrough of the pressure at 100300 mentioned yesterday. The daily line closed as a doji star, indicating a continuation of the downward trend. After six consecutive weekly gains, the first bearish candle has appeared. It is possible that it will drop to take out the bullish support, leading to a false breakdown followed by a rebound to a new high.
Ethereum's weekly downward amplitude is 25.8%, currently about 14.5%. It took 3 months to recover above 2800 from the bottom of 2111. The weekly BOLL upper band is under pressure and falling. Around 2900, there is hope to stop the decline.
Bitcoin
Yesterday, after rebounding to 99540 and facing pressure, the daily line closed as a doji star. This is not a strong rebound. If it breaks below the MA20 dense trading area, there will be short-term support. The rebound has not recovered above the rising channel and below Fibonacci 0.382. A so-called stop-loss reversal must effectively reclaim the corresponding pressure; otherwise, it will not count as sufficient time and space. A wave of market movement follows a line. To align with the trend, at least wait for the second test to see if it can support the rebound. We can wait to build positions on the right side. If 92232 cannot support, it will continue to decline, so pay attention to bottom-fishing opportunities.
The 4-hour K-line has many spikes downward, so we need to observe the strength of the support below and whether there is an opportunity for a short-term upward rebound. The market may fluctuate significantly on Monday, so please pay attention.
Support:
Pressure:
Ethereum
Yesterday, after rebounding to 3555, it fell back, and the daily line also closed as a doji star. The daily line directly spiked to MA60 for a rebound. It does not count as stopping the decline unless it can effectively stand back above 3500. First, observe the strength of the second test rebound. Next, even if it continues to decline, trade in batches for bottom-fishing.
Support:
Pressure:
