South Korea lifts the ban, beware of sell-offs! 12.4 Bitcoin Auntie's market analysis and trading strategy

South Korea issued an emergency curfew yesterday, causing several crypto exchanges in South Korea to temporarily crash, with Bitcoin spiking to 60,000-70,000 and Ethereum spiking to over 2,000! Altcoins even shrank to 30-40%. Subsequently, a large amount of capital rushed in to buy the dip! Thus, after being bought up, the coin prices strongly rebounded! The Bitcoin long positions laid out yesterday gained at least 1500-2000 points! Ethereum could also capture a space of seventy to eighty points! An emergency meeting was held at dawn on December 4 to vote on 'requesting the lift of the emergency curfew.' 190 members of parliament attended the meeting, and 170 voted in favor. The Speaker of the National Assembly of South Korea, Yoo Won-sik, subsequently announced the emergency curfew invalid.

From a technical perspective, the daily line closed with a long lower shadow and a bullish doji, the Bollinger Bands are converging, and the coin price is operating near the middle track. The KDJ chart is basically in a sticky state, and the MACD double lines have a dead cross downward, with volume gradually increasing! The bearish outlook on the daily line remains unchanged!

Looking at the four-hour chart, the coin price is oscillating downward, with both high and low points continuously declining, and the coin price is operating below the middle track. After breaking the middle track yesterday, it has not broken through again! So, intra-day attention needs to be paid to the gains and losses of the middle track!

Overall, the bearish momentum is strong! Additionally, the long positions bought in South Korea have considerable returns, so beware of them driving prices up to unload! Therefore, intra-day operations should maintain a bearish stance at high positions! Key resistance levels to watch are 96,300, 97,500, 98,000, and 99,000, while support levels are 94,000, 93,500, and 92,900.

12.4 Bitcoin trading strategy: Aggressive traders should short near 96,200 on a rebound, while conservative traders should short between 97,000-97,500, with a stop loss near 98,300, and targets set at around 95,000-94,500-94,000. If the position breaks, hold it to look for 93,500-93,000.

Long position strategy: Initially test 94,000 to attempt a long, with a stop loss of 500 points and targets at around 94,500-95,000-95,500.

12.3 Ethereum trading strategy: Enter on a rebound between 3,700-3,730, with a stop loss above 3,780, and targets at around 3,600-3,550. If the position breaks, hold it to look for around 3,500, and if it strongly breaks, hold it to look for 3,450-3,400.

Long position strategy: Initially test 3,500 to attempt a long, with a stop loss near 3,450, and targets at around 3,550-3,600-3,630.

Every pullback sees capital entering to protect the market, and the bulls are slow to act, likely needing a stimulus from news! The election is consuming resources early, beware of capital flight! If you can't understand or choose the right positions, you can follow Conan's strategy to charge together.