Briefing (12/4)
Today's Panic Index (27), the market continues to operate according to the script of 'bottoming out and rebounding.' $BTC has approached the 94,000 mark, and $ETH has successfully stabilized at 3,200. The strength and persistence of this rebound have completely reversed the short-term trend, and the market is currently launching an attack towards the mid-November volatility high! The crypto 'uptrend continues,' and after the release of ADP data, the probability of the Federal Reserve lowering interest rates in December remains stable.
BTC: The V-shaped rebound that started from the low of 83,822 has achieved its phased goal. All moving averages are developing towards a bullish arrangement, and the technical aspect is very healthy. The short-term target looks at the 95,000-96,635 area. This is a strong resistance area from previous fluctuations and the most important test for this rebound. Short-term strong support has moved up to around 93,054.
ETH: It did not stay at the 3,000 mark, breaking through strongly and continuing to rise. The entire moving average system has formed a perfect bullish arrangement. The short-term target looks at the 3,300-3,370 area. This is the starting platform of the previous decline and will face greater profit-taking pressure. The support level of 3,105 has become a short-term safety line.
Market Analysis:
The short-term strength is undoubtedly strong! BTC has successfully broken through and stabilized above MA99 (medium-term trend line), and ETH has shown a smooth upward trend. In the short term, bullish sentiment is high, and the market will continue to rise. However, when approaching the important previous platform (i.e., the volatility area in mid-November), be sure to be cautious of large funds selling at highs, and pay attention to taking profits in batches! A market correction is inevitable. If the price rises and then falls, breaking below BTC's 91,800 or ETH's 3,184, it should be regarded as the beginning of a short-term correction, and consider exiting.
