Friday, 12.13: Bitcoin's movement is stuck, it is advisable to first short and then long during the day!

Last night, the Bitcoin market was tumultuous, with prices soaring to 102,500 at one point, but failing to hold at high levels and quickly retreating under pressure, dropping as low as around 99,300 before starting to rebound. This shows that although market fluctuations are intense, there are still patterns to follow, with the current coin price hovering around 100,000!

The current Bitcoin movement resembles a fierce tug-of-war, with both bulls and bears fighting fiercely for every inch of ground, yet neither can convert their advantages into victory, remaining confined within a box range. Analyzing from the daily level, after a strong bullish candle stretched upwards, there have been consecutive small bearish pullbacks recently, and the coin price has consistently failed to break through the upper resistance, clearly indicating the bulls' subsequent efforts are weakening.

Looking at the 4-hour chart, the previous series of bullish candles had a strong momentum but encountered a solid wall at the upper resistance, followed by a large bearish candle that plummeted vertically to start a retracement. Currently, the short-term bearish momentum is strong, while the bullish energy is gradually waning, suggesting that the bears may continue to push downwards. At this moment, it is crucial to focus on the key support level around 99,000. If this support is broken, the bearish forces may follow the trend downwards, targeting around 97,000. If this support remains solid, a rebound may be expected, and the bulls might reignite their offensive.

Friday Operations

For operations, Ye Wei suggests decisively placing short positions around 100,500 for Bitcoin, targeting down to the range of 99,000 - 98,000. If the price does not show continuity in its downward movement, immediately flip and go long to capture the rebound opportunity.

For Ethereum, it can be opportunistically shorted around 3,920, targeting down to the range of 3,800. Going with the trend is the way to seize the opportunity during this wave of fluctuations!

Recently, the market sentiment is strong, and both short-term and swing operations are smooth sailing. If you are unable to grasp the market correctly, trust Ye Wei, and you will not lose your direction. Ye Wei will lead you on your journey through the crypto world.