Morning Thoughts on December 20
The major market adjustment in the early hours saw Xueliang successfully lead the students to profit. The Bollinger Bands are opening up, the moving averages are trending upwards, the MACD fast and slow lines are also moving up but showing signs of a reversal, volume bars are decreasing, and the KDJ crossed above 80. We need to pay attention to resistance around 100, with the VR indicator consolidating around 150. Looking at the 4-hour chart, the candlesticks are alternating between bullish and bearish and are encountering resistance at the upper band, the Bollinger Bands are tightening, short-term moving averages are signaling a trend change around the mid-band, the MACD fast and slow lines are trending downwards and showing signs of a reversal, volume bars are slightly decreasing, and the KDJ is finding support around 50 before moving upwards. We should be cautious of resistance below 100, with the VR indicator consolidating around 90. Overall, this wave of increase lacks a decent pullback; the candlestick pattern is strong, and if it breaks the previous high in the short term, it should be approached with caution. The major market movements often leave people expecting a pullback to go long but to no avail, so we must be careful now. If it continues to rise strongly without a pullback, there may be significant market adjustments later.
Major Market: 95000-95700 Long Target 96500-97200
Ethereum: 3320-3360 Long Target 3400-3440
