Slight consolidation, intraday high position to short! 12.29 Bitcoin trading strategy
There wasn't much market movement on Saturday, but the shorting strategy suggested yesterday can still capture a small short-term gain! As of yesterday, the price of the coin surged upwards twice, and the hourly chart shows two upward spikes. This morning, Bitcoin peaked at 95,700, and Ethereum reached a high of 3,426. Currently, Bitcoin has retraced below 95,000, and Ethereum has dropped below 3,400!
From a technical perspective, after two consecutive bearish candles on the daily chart, a small bullish candle formed this morning. The Bollinger Bands have not changed much compared to yesterday. The KDJ three lines are basically in a tight consolidation above the 20 axis, and the MACD dual lines continue to move downward with gradually increasing volume; the daily outlook remains bearish!
Looking at the four-hour chart, the Bollinger Bands are beginning to converge. The coin price is operating below the middle band, but the downward pressure from the middle band has not changed. The price slightly rebounded yesterday but was resisted by the middle band. The KDJ three lines have formed a golden cross and are diverging upwards, while the MACD dual lines are basically in a low-level consolidation state, with volume continuing to decrease. The short-term outlook for the four-hour chart is a rebound, so today we need to pay attention to the resistance near the Bollinger middle band around 95,700. If this level is broken, it is expected to open up some space above, but the overall trend still looks bearish!
In summary, the coin price broke the low point on Friday and reached a recent new low, and the capital in the spot ETF market continues to flow out. Therefore, today's operations suggest focusing on shorting at high positions! Key resistance levels to watch above are 95,700, 97,000, 98,500, 99,500, and the 100,000 mark, while support levels to focus on are 93,500, 92,500, and 90,700.
12.29 Bitcoin trading strategy: Aggressive traders can enter short near 95,700, while conservative traders can enter in the range of 96,500-97,000, with a stop loss near 97,800 (adjustable according to your position size). The target is to look for 94,000-93,400 nearby, and if broken, aim for 93,000-92,500-92,000.
Long trading strategy: Attempt to go long near 93,500, with a stop loss around 93,000, targeting approximately 94,000-94,500, and if broken, aim for 95,000-95,700 nearby.
12.29 Ethereum trading strategy: Enter short at 3,400-3,420, add positions around 3,450-3,480, with a stop loss near 3,530, targeting around 3,350-3,300, and if broken, aim for 3,250-3,200-3,150 nearby.
Long trading strategy: Attempt to go long near 3,300, with a stop loss of 40 points, targeting around 3,350-3,400, and if broken, aim for 3,430-3,450 nearby.
Overall, Saturday's volatility was small. The previous day's prediction that the coin price would slightly rebound was accurate as expected. Follow the strategy strictly with stop-loss to manage risks! #美国加密立法或将重启
