Recent events to pay attention to include the Federal Reserve's interest rate decision in December, which may trigger market volatility. The market has overreacted to the 'distant threat' while ignoring recent positive signals, making the possibility of a significant market rise greater than a further crash. A report from CryptoQuant indicates that the total supply of stablecoins has reached an all-time high, which usually means strong underlying purchasing power in the market and may become a key driver for the next price surge.
Bitcoin$BTC technical analysis:
The daily chart forms a rising wedge, typically indicating weakened momentum and facing a direction choice. The hourly chart shows a descending channel: the current price is rebounding from the lower boundary of the channel. Recent trading volume is sluggish, and the market is in a consolidation phase. Key liquidity areas are concentrated around support at 87000-88000 and resistance near 90000.
Ethereum$ETH Technical Analysis:
In a descending channel, the price is forming lower highs and lower lows within the channel. The 4-hour chart shows higher lows, indicating a potential bottoming pattern. The overall structure is bearish, but initial signs of stabilization are emerging. RSI (14): around 46-47, slightly below the neutral line of 50, with weak momentum. The MACD on the daily chart has formed a death cross, indicating weakened momentum. Short-term bearish momentum is dominant, but it has not yet entered extreme oversold territory.
Bitcoin Trading Strategy
Has broken through 90000, and the technical pattern has changed positively. The next focus should be on whether it can hold this position and attempt to push towards 92000-94000. If there is a pullback, 88,000 becomes the new key support.
Ethereum Trading Strategy
The technical analysis remains weak, with $3,000-$3,050 being a critical support level. Its movement may follow Bitcoin; if it can hold the support and break through $3,200, there is potential to reverse the short-term downtrend.
