12.29 Morning Thoughts
We review today's market
In the early morning, Bitcoin rose from around 94300, oscillating up slightly to 95245, followed by a slight pullback. At 2:40, it gradually moved upward until around 6 o'clock when it tested the 95300 level again.
We focus on market sentiment, first looking at the MACD volume indicator. On multiple time frames, the bullish sentiment dominates the market.
Next, looking at the Bollinger Bands, we can see that short-term prices are operating on the upper band. There is a tug-of-war around the 95300 pivot.
In the short term, we continue with the weekend's oscillation strategy.
Short on Bitcoin at 95250 and long at 94200, making two rounds back and forth within the range.
If the market shows oscillation, we look for an upward trend, targeting around 95500.
Upper target at 97800.
For Ethereum, we focus on the 3420 level, not breaking it twice. Watch for a potential long position, looking down at 3375. If it breaks three times, we will chase the upward momentum, targeting 3480.
