Crypto World Early Events 🥇🥇🥇2024-12-24
Bitcoin and Ethereum Trend Analysis, Wealth Codes, Long and Short Entry Points...
BTC 4-Hour K-Line Trend:
Resistance Level: Around 96824~98402
Support Level: Around 90525~92442
ETH 4-Hour K-Line Trend:
Resistance Level: Around 3439~3525
Support Level: Around 3181~3256
In the short cycles of 15 minutes and 30 minutes, Ethereum is performing much better than Bitcoin (bullish trend), currently, Ethereum is leading Bitcoin ⚠️
Technical Analysis:
1. Bitcoin 4-hour K-line is experiencing a volume contraction and rising (as of 7:23 AM), the 4-hour K-line price is still in a descending wedge channel undergoing consolidation, forming a “W” double bottom pattern and rebounding after bottoming out; currently, volume is decreasing, and the rebound lacks strength, please pay attention to the neckline resistance level near 98402;
2. The Bitcoin 1-hour to 12-hour cycle Gubi trend indicator is in resonance with a downward trend, short-term operations suggest shorting on rallies;
3. The MACD indicators for the small and medium cycles below 12 hours are all in a weak area, the patterns below 12 hours have changed (resonating downtrend), the daily MACD indicator has an unstable form, indicating a demand for price adjustments; the price is still expected to continue to decline, and the short-term operation strategy is to short on rallies. If the price rebounds to the 1-hour EMA60 moving average, the upper Bollinger band, double top resistance level, or important neckline resistance level, this is the best opportunity to enter short positions 🥰; if bottom divergence patterns appear in the small cycles of 15 minutes and 30 minutes, it is also possible to consider entering with light long positions; long positions are against the trend, and one should adhere to the principle of fast entry and exit, taking profits when possible 🥰 (please set stop-losses and secure your position with protective measures) {Contract Thinking};
Short-term operation thinking: If the price adjusts to the important support levels marked above, light long positions can be set up {Spot Thinking};
Investing carries risks, please proceed with caution, the above analysis is for reference only! You can also consider making corresponding moves in altcoins based on Bitcoin's correlation!
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