12.25 Morning Thoughts

From the technical indicators, the current MACD histogram value is positive, but its growth rate is gradually shrinking, which indicates that the bullish force has weakened and the market has shown a certain degree of callback tendency. Looking at the EMA indicator again, the value of EMA7 is higher than EMA30, and the value of EMA120 is lower than the current Bitcoin price. The overall long arrangement pattern is still maintained, which supports the price increase. In addition, the relative strength index RSI is currently at around 65, gradually approaching the overbought area, which also means that there is a certain risk of callback.

The 4-hour K-line chart has formed a double bottom support, and then the big sun pulled up, breaking the previous short-term falling pattern and returning to the bullish trend. At the weekly and daily levels, the market is still in a stage of accumulating momentum and following the principle of following the trend. Yesterday's wave of rising market directly rebounded nearly 5,000 points, and it has not yet ended. The important breakthrough position above is near 99,800 points. Once it successfully breaks through and stands firm, it is expected to further climb to 106,000 points. Short-term operations are still mainly based on stepping back and doing more.

Bitcoin retracement: more around 97000-97400, up to 99800

Ether retracement: more around 3430-3450, up to 3600

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