Briefing (12/05)
Today's Fear Index (25), the market's rebound momentum has begun to slow and consolidate before a key resistance level. $BTC encountered selling pressure around 94,000, while $ETH is consolidating on the 3,200 platform. Bulls need to digest the recent significant gains, while bears are counterattacking. This is an important consolidation phase; if the bulls can continue to accumulate strength, a breakthrough is expected; otherwise, they will face the risk of a second pullback! BlackRock CEO: Some sovereign funds bought Bitcoin during the recent drop;
BTC: After reaching a peak of 94,150 yesterday, it retreated, showing clear selling pressure at the 94,000 level. The price fell back to around 92,992, indicating strong short-term support, but bullish momentum has weakened somewhat. Meanwhile, trading volume continues to shrink, and the market's hesitation before the key resistance level is evident. Lacking incremental funds, it is difficult to form an effective breakthrough. The key resistance is seen in the 94,000-95,000 area, which is the lower edge of the mid-November consolidation platform, where trapped positions are concentrated. If it can break through with volume and stabilize above 94,500 in the coming trading days, the next target is 96,635 (the high on November 17). If it falls below 92,536, the market may turn towards a pullback, first testing the 90,197 support.
ETH: The price is consolidating around 3,176. After a strong breakout above 3,000 the day before, it is currently consolidating at a high level. The moving average system of ETH still maintains a perfect bullish arrangement. The price is fluctuating narrowly above 3,144, showing strong bullish control. If the short-term target successfully breaks through 3,250, the next target is 3,370 (the high on November 13). 3,144 is the short-term lifeline, and if it falls below, it will test 2,993.
Market Analysis:
After the strong V-shaped reversal in the previous days, BTC and ETH have reached important resistance areas from the previous decline. Currently, the price is consolidating near MA7, showing that buyers and sellers are evenly matched. If it can break out of the current consolidation range with volume, the bullish signal will be strengthened; if it lingers without rising, or even falls below the short-term moving average, the risk of a second bottom test will greatly increase! In terms of operations, a "buy low, sell high" strategy should be adopted, or wait for a clear direction before intervening.
