The current price of Bitcoin (BTC) is approximately $92,400, down 0.6% for the day, fluctuating between $90,889 and $94,150 over the last 24 hours, with a trading volume reduced to about $67 billion, which is a 16% decrease from before, and a total market capitalization of approximately $1.85 trillion.
The current price of Ethereum (ETH) is around $3,170, up 2.3% for the day, with a 24-hour fluctuation range of $3,104 to $3,240, and a trading volume of about $30 billion, with a total market capitalization of approximately $369 billion.
The total market capitalization of the entire cryptocurrency market is about $2.22 trillion, with Bitcoin accounting for approximately 83%. Most mainstream cryptocurrencies are declining, with over 100,000 liquidations in the market, totaling about $32 million in liquidations. The market volatility is indeed quite significant!
Technical analysis interpretation
Key levels for Bitcoin
Support levels are $91000 - $90800 (this is where today's price spike's low point and moving average overlap), $90000 (this is a key psychological price point), $88000 - $89000.
Resistance levels are $93000 - $93500, $94000 (the highest price of the day), $96000.
From a technical indicator perspective, RSI is in the neutral range, the green bars of MACD are shortening, and the short-term outlook is one of oscillation and repair.
Key levels for Ethereum
Support levels are $3100 (a support that everyone emotionally recognizes), $3064 (today's lowest price), $3000 (this is very strong support).
Resistance levels are $3200, $3250 (very strong pressure), $3300.
Market sentiment and influencing factors, Federal Reserve policy expectations
On December 10, the Federal Reserve will hold a monetary policy meeting, with a probability of a rate cut exceeding 90%. If the rate is cut, the amount of money in the market will increase, which is a favorable support for cryptocurrencies.
Market sentiment
The Fear and Greed Index shows that people are currently more fearful, with the funding rate turning negative at -0.02%, indicating that the market is very cautious, and bears have a slight edge.
Technical repair
Bitcoin has stabilized above $90000 for three consecutive days, and the demand for rebound after the overselling is becoming stronger, with some funds starting to flow back.
Today, Bitcoin stabilized again after breaking below $91000, with Ethereum also oscillating. The market is now in a critical support testing phase, with bulls and bears in fierce contention. In the short term, it looks like oscillation and repair, and in the medium to long term, due to expectations of a Federal Reserve rate cut, it is still relatively optimistic.
In terms of operations, everyone is high-selling and low-buying within the range, strictly setting stop losses, and participating with light positions. Focus on Bitcoin's support at $90000 - $91000 and resistance at $93000 - $94000, as well as Ethereum's support at $3050 - $3100 and resistance at $3200 - $3250.
The direction for upcoming layouts, $BTC $ETH $BTC , expecting a doubling is not a problem, brothers who want to get on board, enter chat room, and we'll layout the entire bull market together! #ETH走势分析
