12.21 Morning Analysis - Rebound of 4000 points, long positions have taken profits
Woke up in the morning and saw the market rebounding as expected, this bottom-fishing wave is really enjoyable! From the high point of 108000 to shorting and then bottom-fishing at 94000 to take profits from the rebound, it can be said that I have made the most of it. Of course, according to yesterday's strategy, our long positions were stopped out once, as the pullback depth exceeded expectations. Fortunately, the evening closed with a pin bar, which allowed for the long positions to be chased in, and it also surged significantly in the evening.
1. BTC current quote 97500. Daily line closed with a pin bar, price closed above the lower Bollinger band at 94000, ending two large bearish candles. The volume shows that many were bottom-fishing yesterday. Currently, the price is still under pressure from the daily MA30 moving average and the resistance of the 4-hour Vegas channel. The chart indicates that this decline has reached the troublesome 0.382 position. Overall, it still hasn't escaped the bearish trend, and with the weekend approaching, it's not optimistic for a direct breakthrough. Caution is needed. Therefore, short-term resistance is at 98500, with support below based on yesterday's low. If it doesn't stabilize above 99000, expect a fluctuating trend over the weekend, maintaining the anticipated trend.
Daily Strategy
Short at 98000-99000, stop loss at 100500, take profit at 95000, 94000.
Long at 94000-93000, stop loss at 92000, take profit at 95500, 97000.
2. ETH current quote 3480. The daily line closed with a bullish candle, ending three consecutive bearish candles. Yesterday's drop had a significant volume hitting 3100, which was 100 points more than expected, hitting the daily Vegas support point. During the rebound in the evening and early morning, the price closed above 3200. Structurally, 3500 is the expected position of the M head and shoulders neckline rebound. Pay attention to the breakthrough at this position during the day. Considering the significant drop overall, ETH indicators need some repair space, with no clear reference direction. Given the strong rebound in altcoins, it may strengthen Ethereum, so high shorts can be considered.
Daily Strategy
Short at 3580-3600, stop loss at 3650, take profit at 3500.
Long at 3400-3370, stop loss at 3350, take profit at 3450, 3500.
Breakout long at 3520, stop loss at 3470, take profit at 3580, 3600.
3. Altcoins are expected to have a significant rebound over the weekend, and there are some good ones to discuss together.
