Crypto Market Early Occurrence 🥇🥇🥇 2024-12-7
Analysis of Bitcoin and Ethereum trends, wealth codes, long and short ambush points...
BTC 4-hour K-line trend:
Resistance level: around 101186～103959
Support level: around 97237～98892
ETH 4-hour K-line trend:
Resistance level: around 4036～4133
Support level: around 3907～3960
Technical analysis:
Bitcoin's 4-hour K-line cycle is experiencing a volume-reduced decline (as of the 8 AM close) 🈶 with suspicion of a short trap. Bitcoin's indicators above the 30-minute cycle are all in a bullish trend, continuing to remain optimistic; KDJ indicators for Bitcoin above the 1-hour cycle are all above 50 (bullish territory, resilient to decline); 3-hour MACD indicator shows a leaking oil pattern, and the 4-hour MACD indicator shows a formless water pattern, indicating a temporary need for price correction. The short-term trading strategy is to buy on dips, and when a double bottom pattern or bullish divergence pattern emerges in the smaller cycles of 15 minutes, 30 minutes, or 1 hour, it presents the best opportunity to enter long positions 🥰 (please set stop-losses and buckle up safety measures while preparing the three rescue strategies) {Contract mindset};
Short-term trading mindset: Price corrections to the important support levels marked above can allow for light positions to be entered {Spot mindset};
Investment carries risks, and caution is needed when entering the market. The above analysis is for reference only! You can also make some corresponding arrangements for altcoins based on Bitcoin's correlation effect!
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