The cryptocurrency prices have rebounded and even exceeded the previous high point of the decline, but so what? What is the significance of this rise? Will there be another major liquidation in the short term to eliminate the long positions bought during the week? If it can fall to a new low after a bottom is established, what then? Even though the recent losses have been recovered, this does not represent a normal market performance. In Yanling's view, it appears more like a short-term peak because no matter how many fluctuations occur, it ultimately falls back into sideways consolidation. If this wave is indeed the start of a bull market, then this consolidation shouldn't last too long; either it must rise again before Friday night, or if it cannot go up, it will fall deeply again. In the short to medium term, 90000 has become a key position for the bulls and bears. The next few days towards the end of the week should pay close attention to the strength of this support.
Currently, the technical indicators on the chart show that the Bitcoin daily level indicates that the recent price has quickly rebounded from the low of 83800 on December 1 to the high of 94150 on December 3 and is now in a stage of oscillation adjustment. At the hourly level, short-term support is formed around 93000, but there is significant pressure in the 94000 area above. The hourly MACD histogram continues to shrink, with DIF and DEA converging downwards, indicating weakened momentum in the short term; the daily level remains in the bullish range but shows signs of a top divergence. The hourly RSI value is 53.57, positioned in the neutral to strong zone, not entering the overbought or oversold areas; the daily RSI has gradually declined from the previous high of above 65 to around 56 now. The hourly EMA7 is close to the current price, indicating a relatively clear short-term pressure; EMA30 provides some support. The daily EMA120 remains an effective long-term trend support, but attention should be paid to the strength of this position; if it breaks down, the bears may sweep in again.
12.4 Bitcoin Trading Strategy:
1. Sell at 94000-93200, reserve space for buying back at 96000, stop loss at 1000 points, target at 91000-90000.
2. Buy at 89700-90700, stop loss below 88700, target at 92500-93500.
12.4 Ethereum Trading Strategy:
1. Sell at 3280-3240, stop loss above 3330, target at 3120-3080.
2. Buy at 3050-3090, stop loss below 3000, target at 3160-3200.
【The above analysis and strategies are for reference only; risks are to be borne by oneself. The publication of this article may have delays, and the strategies may not be timely; specific operations should refer to Yanling's real-time strategies.】
This content is an exclusive original sharing by senior analyst Zhou Yanling $BTC $ETH high-reversal chat room find me.
