Cryptocurrency Market Analysis: Who Can Stop Bitcoin's Surge on 12.18? How Much More Upside Potential is There?

Article Published on 2024.12.18—01:25

Current Bitcoin Price: 107,500, bullish trend continues, Bitcoin has once again broken its historical record, surpassing 108,000, and is very close to 110,000. Do not doubt the determination of the main players, do not try to guess the top. Remember the survival rule of the market, follow the trend, and firmly execute this strategy. By following the main players, this market will maintain a high win rate and stable operation. This recent pullback has clearly reached a new support point at 106,000. Since the support is effective, why not enter the market? With entry, there is now at least 1,500 points of potential profit.

Looking at the current market situation, we start the analysis from the price. The K-line pattern on the order book shows consecutive bullish candles, indicating a strong upward trend in the market. Between the 16th and 18th, multiple long lower shadows appeared, indicating strong support below. The MACD technical indicators DIF and DEA are both above the zero axis, and the MACD histogram is positive, showing strong bullish momentum.

The Relative Strength Index (RSI14) is close to the overbought zone but has not entered extreme territory, indicating that there is still some upside potential in the market. The trend indicators show that the price is above EMA7, EMA30, and EMA120, with short-term, medium-term, and long-term moving averages in a bullish arrangement, supporting the current upward trend. The trading volume on the 16th significantly increased, accompanying the price breakout, showing that funds are actively entering the market. However, the overall level remains high, indicating that market participation is still robust. At this time, strengthen your belief, hold onto your bullish positions, and do not exit casually. For those shorting, set stop-losses and be clear about resistance levels for quick entries and exits.

Today's Market Predictions

Long Entry Point: 106,000, Additional Long at 105,000, Stop Loss at 104,500, Target 108,000

Short Entry Point: 108,000, Additional Short at 109,000, Stop Loss at 110,000, Target 106,000

The above is a brief analysis of the current market situation for your reference.