Last night, BTC rose by $6,000, an increase of 7%. The Christmas market has indeed arrived. Last night's rapid rise, coupled with the rebound of US stocks after oversold, gave people a completely festive atmosphere, quite a performance, and appropriately expressed the perfect ending of the year for traders.
Now we have come to the area of support-resistance exchange. At present, the hourly level has formed a triangle convergence pattern. Before it effectively stands at 99550, we still need to be cautious about the market.
The US stock market was closed for one day on Thursday this week. BTC is at the upper edge of the oscillation range. If this position stays for a long time and gradually forms a small-scale oscillation range, it will be possible to prepare for the upward surge. Before the complete breakthrough, the current market is treated according to the idea of wide-range oscillation in the box.
Several key positions to pay attention to
Support level
First position 92828
Second position 96003
Third position 95178-94885
Resistance level
First position 98766
Second position 99570
Third position
When trading, it is important to follow the trend and act accordingly. When a trend arises, take the opportunity; be flexible in switching when the trend reverses. Fighting against the trend is like an ant trying to stop a cart, disrupting your own mindset and trading rhythm.
In the cryptocurrency market, significant movements often occur during the night. Especially when closely correlated with US stocks, remember to be proactive in taking profits and decisive in cutting losses. Holding onto losing positions is meaningless.
If you have any questions regarding market analysis of other cryptocurrencies or trading-related inquiries, feel free to leave a comment.
Personal opinion, please read rationally. Not investment advice.
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Wishing you successful trades. Thank you!
