2024-12-23 Daily Perspective
I woke up to find that the market is still not performing well. During the daily Asian session, there was some "risk aversion" sentiment, similar to the day of the Japanese interest rate decision. There may be some concerns about the opening of the U.S. stock market tonight. Worries that Americans will continue to sell off tonight caused some investors who bottomed out in the past two days to take profits. This has pushed the prices down a bit again. However, it seems that the momentum is not that strong now, and it doesn't look like the main force is acting.
But after breaking 950, the situation doesn't look good, as it consistently shows a negative slope. Ethereum successfully "deceived" many last night, and I estimate that quite a few friends were misled into buying in.
Currently, there is a trend consisting of three 4-hour candles, which can no longer be trusted; we need to add up to five candles, or wait for the daily line to form a stop-loss before we can trust it.
The following two images show the running situation at the 4-hour level, where it can be clearly seen where there is pressure, and then it fails to break through from a bearish engulfing pattern, retracing and testing the bottom before entering the next range. However, the 4-hour chart no longer shows anything significant. Let's switch to the daily chart for a clearer view, as shown in Image 2.
If we are looking at the daily chart, we should at least stay above 95100 to close a daily candle, which can provide some reassurance.
At the 4-hour level, we should also aim to close above 95400 for some reassurance.
For those who bottomed out yesterday, I hope you entered according to the 3,3,4 or 2,2,3,3 strategy. If not, I hope you didn't go all-in; if you did, I hope you don't resist too hard. If the upcoming market continues to underperform expectations, I hope you will reduce your positions when necessary.
Let's see if tonight Beir will perform another round of Yip Man, giving us a show of 1 against 9.