After the weekend's sideways correction, the market opened strong on Monday. This time, Japan's interest rate hike left many people greatly disappointed; not only did it not fall, but instead, it rose.
As discussed in the live broadcast, the performance report will be due by the end of the year, and it won't be particularly ugly. The quality is still rising...
From the current market perspective, both the 1-hour and 4-hour charts are above the zero line, and it won't come down so quickly. This rebound after the oversold condition is likely to continue. It all depends on whether the previous high resistance level can encounter resistance and fall back after a rise tonight.
The Bitcoin price has been hovering around the previous high of 905 for a week now. The focus tonight will be on the breakout situation at 905. A strong breakout with volume will test the resistance around 925; conversely, if 905 cannot hold, it will retest the two support points at 875 and 865.
865 was the low point during Friday's U.S. market pullback. This means that as long as 865 is not effectively broken, the bulls will remain stronger in the short term. If you want to short, you can only open positions at strong resistance levels; opening shorts at other levels is not cost-effective.
Ethereum is currently at 3030, making a second breakout and rising to 3060. 3030 is also a Fibonacci resonance point. If it stands above 3030 and does not fall below 3000 during the pullback, it will likely surge upwards again tonight.
The next target is around 3130-3150, which corresponds to the 0.5 level. The probability of falling back from this strong resistance is still quite high. The key support below is at 293, which was the low point during Friday's U.S. market pullback. This means that as long as 293 is not effectively broken, the bulls will remain stronger in the short term.
It’s the end of the year; don’t engage in the practice of chasing highs and cutting losses.
Protect your capital, and don’t fall easily.
Next year will be a great year; trust me.
