December 18 Afternoon Thoughts
After a round of consolidation, the current price structure and pressure have both broken through; will we still find it hard to rise? I am not blindly bullish; I have always viewed the larger trend as bullish. Short positions should only be taken for short-term operations; you can refer to my recent articles for insights. It is difficult to find the next resistance level in the current market; the Fibonacci sequence may help estimate potential highs, but whether it will come true is still uncertain. It is not difficult for the price to reach a new high, and operationally, the larger trend remains bullish, while short-term positions should be kept short. From a technical perspective, the daily chart shows a long lower shadow bullish candle, indicating strong buying at low levels. The 4-hour MACD histogram has turned positive, with the DIF crossing above the DEA, enhancing bullish momentum. The RSI value at 64.3 is close to overbought territory but not extreme, leaving room for further upward movement. The price has broken through multiple moving averages and is operating above them, showing bullish tendencies in the short-term, medium-term, and long-term. Operationally, buy on dips.
Bitcoin: 100400-101000 long Target 101600-102200
Ethereum: 3610-3650 long Target 3690-3730
