2024.12.11 Intraday Thoughts and Analysis

The main trend of Bitcoin in the recent period is showing a range consolidation, with multiple intraday spikes. The higher the position, the more caution is required. The recent low of the intraday spikes is around 90200, which is the starting point for the previous bullish breakout on the daily chart on November 18, aiming for 100,000. The pullback has been relatively sufficient, meaning that if it breaks this level again, the weekly and monthly pullbacks will begin. On the daily chart, the pullback aligns well with the US stock market, which remains strong in the bullish trend on the daily level. In the short term, one can consider shorting around 98000-98500, with a target set at 96000-94000. For Ethereum, the short position target is between 3680-3720, aiming for 3530-3500.