Crypto Market Morning Report 🥇🥇🥇2024-12-15

Analysis of Bitcoin and Ethereum trends, wealth codes, long and short ambush points…

BTC 4-hour K-line trend:

Resistance level: around 102363～103346

Support level: around 99319～100558

ETH 4-hour K-line trend:

Resistance level: around 3907～3960

Support level: around 3785～3849

Technical analysis:

1. Bitcoin's 4-hour cycle K-line is experiencing a volume drop and decline (suspected to be a trap for shorts). After a price correction following the “M” head double top pattern, it is currently oscillating at a high level in a wedge upward space channel. Please note the neck resistance level around 103346;

2. The bullish trend of Bitcoin is resonating in the indicators on cycles longer than 1 hour, with short-term operations recommended to buy on dips;

3. The MACD indicators for Bitcoin on cycles longer than 2 hours have both fast and slow lines running above the 0 axis (resonating bullish trend), and the MACD indicators for cycles above 4 hours are all above 50 (resistant to declines). However, the fast line of the MACD indicator for the 1-hour cycle has already fallen below the 0 axis, and the MACD indicators for the 2-hour and 3-hour cycles are both in a no-root water shape, indicating a short-term need for price correction. The short-term operational strategy is to buy on dips, and when the price corrects to the important support levels marked above or to the double bottom pattern on the small cycle of 15 minutes, 30 minutes, multiple bottoms, or the important neck support level, it presents the best opportunity to enter long positions 🥰

Short-term operational thinking: If the price corrects to the important support levels marked above, you can lightly place long orders.