A new day brings good news again, Trump publicly supports the Bitcoin reserve plan, pushing the U.S. government to accumulate Bitcoin as a strategic asset. This plan has garnered support from political figures including Porter and Loomis, and has attracted bipartisan attention. Trump's support gives political momentum to this once-marginalized concept and marks a watershed moment in the cryptocurrency market. A California Democratic congressman and a Wyoming Republican senator proposed incorporating Bitcoin into U.S. reserve assets, partly relying on America's gold reserves. However, critics argue that this may reinforce U.S. financial dominance and challenge the decentralized ideal of Bitcoin. Nevertheless, supporters believe this initiative helps address the debt crisis and promotes global financial innovation. With 2024 coming to a close, the overall market performance is stable under the influence of the Christmas holiday, and expectations for a strong Bitcoin finish are becoming clearer. From a monthly perspective, as time goes by, the upward trend above the short-term moving averages remains solid, indicating that the market may continue its upward momentum into 2025, which outlines a rough picture of the overall trend.
Bitcoin basically maintained a narrow range of fluctuations yesterday, with the largest wave peaking at 99540 in the evening before retreating under pressure. Due to the U.S. stock market being closed, the market contracted and entered a phase of dull oscillation, closing with a doji candlestick. Currently, the coin price continues to hover around the middle track for correction, waiting for a breakout to open up a directional range. The four-hour chart of Bitcoin shows a slight opening of the Bollinger Bands, and yesterday it oscillated back and forth between the upper and lower bands, consistent with the fluctuation range provided yesterday. Although the short-term trend is experiencing slight pressure and entering consolidation, the key remains the breakthrough at the 100,000 mark. In the short term, we continue to see wide fluctuations between 97000-99500. For intraday operations, we maintain a strategy of high short and low long within the range, and will follow the trend after a breakout. The market remains strongly bullish, and for wave positioning, we can buy on dips.
Ethereum has mostly fluctuated in the range of 3450-3490, with limited movement. The market remains in a slow consolidation phase, and the four-hour level shows strong potential for breakout. After continuous ups and downs, the lows are gradually rising, forming a solid support base, and once again displaying a vigorous upward momentum. The overall trend runs closely along the upper trend line, with current volatility remaining low as it is still brewing. The expectation for a pullback is gradually decreasing, and with support levels continually rising, the price is likely to test upward again. Today, we maintain the strategy of buying on pullbacks.
