🍎 December 25 Market Insights. 🍎
$BTC Insights:
The high point of Bitcoin on the hourly chart on December 21 was 99539, while yesterday's high was 99460, which was a few hundred points off from breaking 100,000. Why has it stopped here and not surged further?
Is it intentional by the market maker, or is there another motive? It appears that the hourly chart of Bitcoin has formed a double top pattern.
Bitcoin broke through 98155 with volume, and the hourly closing line is above 98155, so go long on the right side and recover stop losses.
A false breakdown at 97925 occurred, so add another long position, with stop losses at the low of the false breakdown. If there is no recovery action, do not go long.
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If Bitcoin breaks down 97925 with volume, go short on the right side and recover stop losses.
On the hourly chart, is Bitcoin forming a W bottom or an M top?
For the M top to be valid, it must close below 97277, which would lead to a downward view of 96578-95556.
To form a W bottom, it must break and stabilize above 99110, which would indicate an upward target of 99539-100508.
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Be cautious of a 2b false breakout at 99539 above Bitcoin; short one position, and if it breaks 100,000, stop loss.
Conservative traders should wait for 95340 to go long one position, with stop loss below 95000.
Upper resistance levels: 99108-99700-100589
Lower support levels: 97278-96417-95502
Tonight, the U.S. stock market is closed, allowing Bitcoin to fluctuate freely.
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$ETH Thoughts:
Ethereum broke through 3483 with volume, go long on the right side, and recover stop losses.
A pullback to 3463 is effective support for a small long position, with stop loss below.
For Ethereum to be strong, it must stabilize above 3500 to look at target levels of 3539-3613.
If 3463 is directly broken, go short on the right side and recover stop losses.
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Above Ethereum, pay attention to 3560 to short one position, with stop loss above 3600.
Left-side order: Long directly at 3326, and run if it breaks below 3300.
On the 4-hour chart for Ethereum, do not break below 3429; if it does, look down at 3381-3301. It might also be possible to rebound from above.
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Upper resistance levels: 3505-3556-3613
Lower support levels: 3431-3390-3322
Originally thought Ethereum's exchange rate had stabilized at 0.036, but waking up to see it has broken below 0.036, which is severely suppressing Ethereum. It's too difficult for Ethereum to rise. Meeting adjourned.
