12.24 Morning Thoughts
As Zhenkang has emphasized many times before, with Christmas and the Spring Festival approaching, liquidity will improve, and market sentiment will inevitably be dominated by bears. In the medium to long term, we will likely see a pullback followed by a rebound!
Looking back at today's market, Bitcoin continued its downward trend from 96423 to 92520 in the early morning and then recovered upwards. We can see that starting at six o'clock, MACD formed a golden cross upwards, indicating that bulls began to exert strength, leading to an upward movement to 94985 before a pullback. The market is characterized by a wide fluctuation pattern. There's not much to say. The market structure is to sell high and buy low, so in terms of operation, we will buy low and sell high!
Have the courage and boldness to trade back and forth; going both long and short is fine!
For stabilizers, going short is safe, or going long is also very secure.
Short-term support levels to reference are between 93300 and 93700. Of course, if the bulls are looking for support on the downside; for the second segment: we reference the support level at 92300.
By analyzing the main players' psychological anchoring price, we can determine the bullish and bearish trends. If 92300 is broken, we will look for a pullback! If not broken, we will look for a rebound.
Bulls take note:
Watch for long positions on Bitcoin between 92800 and 92500, targeting 95000.
For Ethereum, long between 3270 and 3260, targeting 375.
Bears take note: Watch for short positions on Bitcoin between 95000 and 95300, targeting 92300-92500.
For Ethereum, short between 3360 and 3375, targeting 3250-3275.
