December 12th, Daily Thoughts for December 9th
The technical indicators are also very clear, with prices oscillating around 100,000 recently. The daily K-line shows signs of a high-level pullback, with a long upper shadow appearing intraday, indicating significant pressure above. In the 4-hour cycle, the DIF and DEA are close to the zero axis, and the MACD histogram has turned from negative to positive and then back to negative again, indicating a tug-of-war between bulls and bears in the short term. Currently, the RSI value is hovering around 50, not entering the overbought or oversold zones, indicating a relatively balanced market. The current price is below the EMA7 but still above the EMA30 and EMA120, showing a weak short-term trend but still an upward long-term trend. Therefore, in terms of operation, Boyan suggests maintaining a bullish stance.
Currently, the overall trend direction is such that the daily line has reached the top pressure position of the Bollinger Bands, with the market gradually starting to pull back. The daily Bollinger Bands are gradually narrowing, with support rising from below. We are currently focusing on the first support near $97,000 and the second support at $91,800, which are positions we need to pay attention to in a declining market. For Ethereum, we need to monitor $3,660 and $3,230. From the current trend, the overall market has not yet formed a bull-bear conversion, but we need to prepare for unforeseen circumstances.
Operational Suggestions:
Bitcoin: Long around 9,800-9,850, target looking at 9,900-9,500.
Ethereum: Long around 3,850-3,880, target looking at 4,020-4,050.
