12.24 Morning Thoughts
As Zhenkang has emphasized many times before, with both Christmas and the Spring Festival approaching, liquidity will improve, and market sentiment will inevitably be dominated by bears. In the medium to long term, we will first see a pullback followed by a rebound!
Looking back at today's market, Bitcoin continued its downward trend from 96423 to 92520 in the early morning, followed by a recovery upward. We can see that starting at six o'clock, the MACD golden cross points upward, and the bulls begin to gain momentum, moving up to 94985 before starting to pull back. The market is characterized by a wide range of fluctuations. There’s not much to say. The market structure indicates selling high and buying low, so in terms of operation, we buy low and sell high!
Have the courage and boldness to trade back and forth; a dual strike on both bulls and bears is fine!
For those who prefer stability, going short or going long alone is also very safe.
Short-term support levels to consider are between 93300 and 93700; of course, if the bulls go down, look for support; the second segment: for support we refer to 92300.
We determine the bullish and bearish trends by analyzing the psychological anchor prices of the main forces. If 92300 is broken, we expect a pullback! If it does not break, we anticipate a rebound.
Bulls should note:
For Bitcoin, pay attention to buying between 92800 and 92500, with a target of 95000.
For the second coin, buy between 3270 and 3260, with a target of 375.
Bears should note: For Bitcoin, pay attention to selling between 95000 and 95300, with a target of 92300 to 92500.
For the second coin, sell between 3360 and 3375, with a target of 3250 to 3275.
