Crypto Market Early Events 🥇🥇🥇2024-12-18
Bitcoin and Ethereum trend analysis, wealth codes, long and short attack points...
BTC 4-hour candlestick trend:
Resistance level: around 107925～109201
Support level: around 104402～105521
ETH 4-hour candlestick trend:
Resistance level: around 3942～4020
Support level: around 3802～3874
Technical analysis:
1. Bitcoin 4-hour cycle candlestick shows a decrease in volume (as of 7:05 AM, 🈶 has the suspicion of a short trap). Last night, Bitcoin's 1-hour cycle candlestick showed an increase in volume, and the price reached a historic high of around 108353 USD. The 1-hour cycle shows a top divergence pattern with a price correction. Currently, it is in a high-level consolidation in the 4-hour wedge upward channel. Please note the neckline resistance level around 107925;
2. All cycles above 1 hour for Bitcoin are resonating with bullish trends according to the Gu Bi trend indicator, short-term operations should buy on dips 💹;
3. All cycles above 1 hour for Bitcoin's MACD indicators are showing a bullish trend above the 0 axis (resonating bullish trend), but the daily cycle MACD shows a top divergence pattern. The 1-4 hour cycle MACD shows a shape of water without roots, indicating a temporary price correction is needed. The short-term operation strategy is to buy on dips. The best entry point for long positions is when the price corrects to the 1-hour EMA60 moving average, double bottom support level, or important neckline support level 🥰 (please set stop-loss and take protective measures with three strategies for resolving positions) {Contract Thinking};
Short-term operation thinking: Price correction to the important support levels marked above allows for light positions to be placed for long entries {Spot Thinking};
Investment involves risks, and one should be cautious when entering the market. The above analysis is for reference only! Everyone can also make corresponding layouts for altcoins based on Bitcoin's correlation effect!
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