12.17 BTC, ETH Evening Analysis: Market Rising with Low Volume, Downward Channel Gradually Opening
This week, Bitcoin has been in a state of rising with low volume, clearly starting to lose momentum, and tomorrow evening is the most critical interest rate meeting. There is a possibility of a deep adjustment before this; if you are going long, it is better to take profits to avoid being caught in a position! Only by waiting for the interest rate cut to take effect can Bitcoin continue its bull market mode. Pay close attention to the Bank of Japan's target interest rate on the 19th. The last time the Bank of Japan raised interest rates, Bitcoin dropped over ten thousand points within a week around March 19 and July 31. Therefore, special periods require special treatment; do not just blindly go long or short, but find the right key positions to lay out your strategy.
From the 4-hour chart of BTC: The trend chart shows a narrowing triangular upward channel. It has repeatedly encountered resistance at the upper trend line, and then it has retraced after touching it, forming a long upper shadow candle downwards. Therefore, the main strategy is to short unless it can stabilize above the trend line level of 107550 for the third time during the day, then it will continue the upward mode. The lower part of the trend chart also indicates that once it touches the support below the trend chart, it will rebound upwards and return to within the trend chart. Combined with technical indicators crossing downwards strongly bearish, especially the KDJ dead cross downwards, the bulls turn into bears. Therefore, tonight the main strategy is to short, and after tomorrow evening's interest rate cut takes effect, we will see if there is any change in the trend.
BTC Evening Strategy: Short at 107500-108000, target around 105000!
ETH Evening Strategy: Short at 3975-3990, target around 3880!
