On Monday, when I opened my eyes, Bitcoin came again and again. The weekly and monthly charts have collapsed completely, and the bullish sentiment that was built up for ten days was all reversed in just one morning.
December marks the last interest rate cut of the year, and from December to February next year, there will be a pause in rate cuts. During this time, the market has only one direction, which is still bearish.
Currently, Bitcoin is first looking at 85300; if it breaks down, it will head straight for 80000 or even a new low. As for Ethereum, 2750 is the first point of interest; if it breaks, we can expect a retracement to 2620 or even a new low.
The pancake was directly influenced by positive news at dawn, breaking through the key resistance level of 90,000. The hourly K-level downtrend line was directly breached.
However, until it returns to the daily level uptrend line, it should be treated as a rebound. We have already reached our target, so there is no need to blindly chase long positions.
It is recommended to short around the 92,000 line and observe the area near 87,000.
Currently, Ethereum is still in the bottom rebound stage, and there are no signals indicating a peak, so there is a possibility of continuing to oscillate upwards.
Structurally, this rebound belongs to a channel-shaped flag adjustment.
This is because the current upward wave has not yet broken the lower edge of the channel, nor has a top pattern appeared.
The bullish sentiment still prevails, with the current price at 2890, suggesting a direct buy with a target around 3200.
The current short-term pullback demand is very obvious, so the idea remains unchanged. After the main force returns to around 85500, one can consider moving north.
The next wave is not 90,000, but 92,000. The main force will not directly hit 92,000 but will grind back and forth. Those who cannot withstand it will naturally be washed out.
The Ethereum daily continued to oscillate in a range, and in the evening there was a surge that broke upward. Currently, the high has reached around 2980, with a strong price increase, and it has successfully broken through the 2900 mark.
If the subsequent rebound cannot break through the key level of 3000, a pullback will soon follow. After this upward movement during the day, the support has now shifted to around 2780-2800.
It is recommended to go long near the 2850 level, targeting 3200!
After two days of exploration and failing to break below the 85000 line, the market has gone through a consolidation pattern over the weekend, and in the evening, it fell back to early morning, resulting in another wave of rebound.
The high has already reached the key resistance nearby, and the upper resistance still focuses on the position around 90,000.
If the rebound cannot break through and stabilize in this area, there is still a risk of a pullback for support. Conversely, if it breaks upward, it is expected to further test for advancement,
It is recommended to buy below the 87000 line, targeting to reach 92000!
The Ether has been oscillating upward, currently reaching around 2870, with an intraday increase of nearly a hundred points. The price surge is quite strong, but it has not managed to break through the 2900 mark. This indicates that there is still significant resistance above.
From the 4-hour perspective, the market has recently formed a double bottom structure in the 2704-2733 range, with a short-term key resistance located near the 2860 line.
Although the daily level has consistently closed with long lower shadows in the 2623 area, indicating that there is buying power at lower levels, the closing price has always been constrained by the 7-day moving average resistance, and the overall moving average system still presents a bearish arrangement, with the downward trend not yet reversed.
It is recommended to go short near the 2900 line and watch for a decline towards 2600.
Although there hasn't been a significant rebound or decline this weekend, I feel that the market has become a bit more relaxed. This is because the market finally started to show some signs of responding to tonight's U.S. stock market and the interest rate cut in December, unlike last week when it was being aggressively sold off.
Everything now depends on the opening of the U.S. stock market tonight. The Asian market usually doesn't stir up much, and the real direction is determined by the Americans, who love to panic sell over the weekend and then continue to aggressively sell when they wake up on Monday morning.
The daytime market is expected to rebound and then consolidate sideways, with not much fluctuation. The evening market is very important; if the statements are favorable for the market, Bitcoin will rebound, but if it follows the pattern of last Thursday and Friday, with a short-term rebound followed by a drop, then we will test lower points next, likely breaking below the 80000 level.
It is recommended to continue shorting above the 87500 level and watch the 80000 level below.
The US stock market started to turn down close to midnight, and Nvidia was also pressed down. As for Bitcoin, it continues to only decline without any rise, always looking lifeless.
From the daily perspective, Bitcoin is just at the support zone below that it has been in the past. The bears' strength continues to strengthen, and the probability of dropping to 80,000 is rising.
Still the same saying, do not guess the lows, short again above 85,000, with a target of 80,000 below, and if it breaks, stabilize at 72,000!
The rebound strength is limited, the focus is still on the high position encountering resistance, short above 93500, just wait for the flowers to bloom!