Crypto Circle Mr. Coin: 12.31 Bitcoin (BTC) Market Analysis Reference

Bitcoin's bullish momentum weakened yesterday, and the intraday market continued to decline. Previous articles have mentioned several times that there is still a possibility of prices dropping further. The intraday long positions also successfully took profits and exited, with the trend breaking downward as expected. The coin price is retracing downwards to test support levels again, rebounding after breaking below the 92000 line. Subsequently, market sentiment gradually improved. Currently, the price has returned to the area above 94000, and the overall trend maintains a wide fluctuation stance, with support showing a downward trend.

On the daily chart, the current trend is operating near the five-day moving average, with the market retracing and showing a rebound rhythm. However, the market is still operating in the mid-lower track area. There is strong resistance in the upper EMA 15-day line and EMA 30-day line area. If it cannot break through and stabilize during the day, the expected oscillating market may continue further.

On the short-term hourly chart, bullish sentiment is gradually warming up, and the Bollinger Bands are in a converging stance. A rebound with a bullish candle has broken through the Bollinger midline, and there are signs that the short-term upward rhythm may be interrupted. We need to see if it can stabilize at the Bollinger midline, so it is not advisable to blindly chase the market; be cautious of the market being under pressure leading to a deep correction. Bitcoin's current market has not broken out yet, so it is advisable to maintain high positions with low longs, and do not enter the market blindly.

12.31 Bitcoin Short-term Reference:

Long positions: Buy in the 92000-91500 range, with a stop-loss at 90500; target above 94000,

Short positions: Light short in the 95700-95000 range, target 500-1000 points, stop-loss at 97000;

12.31 Ethereum Short-term Reference:

Long positions: 3180-3230 range, with a stop-loss at 2950; target above 3200,

Short positions: 3450-3410 range, stop-loss at 30 points; target 50-100 points,

The sending of messages may be delayed, and strategy suggestions are for reference only. The market changes rapidly, regardless of how high the judgment of the market is, be sure to manage take-profit and stop-loss properly, securing profits is important.