12.25 Morning Market Update - Yesterday's Short Position in Profit
BTC Current Price 98500. Last night followed the rebound of U.S. stocks, like a vampire it reclaimed the losses of the previous three days, outperforming most market varieties. Currently testing early resistance, if 99500 can be broken, I won't consider going short for now, this wave is very likely to reach 102000-105000. In the 4-hour chart, the price has already broken through the recent Bollinger middle band and the Vegas channel, although after the rebound, resistance begins to adjust, the probability of bullish sentiment increases later. Short-term upward momentum is also relatively strong, but recently has been adjusting during the day, rising at night, allowing for short-long positions at high points. Short-term resistance at 99500, support below at 97000.
Daily Strategy
Long Position at 96500-95500 Stop Loss at 94900 Take Profit at 98500, 99500
Short Position at 99000-99500 Stop Loss at 100000 Take Profit at 98000, 97000
2. ETH Current Price 3480. Last night's rebound was somewhat lacking, the short position missed entry by 20 dollars, and the time for correction was the fastest drop. The current price is also at a previous resistance point, testing the neckline of the M-head a second time, the position is critical, if it holds here, it means recent adjustments have ended. However, in the 4-hour chart, there are still multiple resistances, such as the Vegas at 3570, and Bollinger is also nearly retesting. Let's see how the daily closes.
Daily Strategy
Long Position at 3400-3380 Stop Loss at 3345 Take Profit at 3480/3520
Short Position at 3520-3550 Stop Loss at 3580 Take Profit at 3500/3450
