$BTC
Weekly Analysis:
Last week, a bullish candlestick with slightly stronger volume formed, indicating intense competition between bulls and bears, situated near a crucial support level, representing a consolidation phase after a decline. Currently, no further details have emerged to enhance the judgment basis, awaiting the market to unfold further.
Daily Analysis:
On December 1st, after a second bottoming attempt, a strong bullish engulfing candlestick appeared the following day, signaling a halt in the downtrend. Therefore, the current market can be categorized within a consolidation range of 80537-93091, with a probability of being in a bottoming process. The level of 93091 serves as a neck line, where we should monitor subsequent details of the market's bottoming process to enhance our judgment basis.
Summary:
The trend context at the weekly level indicates a bull market, currently in an adjustment cycle, with the formation of a candlestick indicating intense competition, as shown by the long upper and lower shadows. There are no other obvious signals, and we await further K-line developments to enhance our judgment basis.
The trend context at the daily level indicates a continuation of the downtrend, showing signs of bottoming. Monitoring the subsequent bottoming situation will help determine whether the trend reverses.
Expectations for interest rate cuts remain unchanged, and the market is merely in an adjustment. The overall direction remains the same, with the daily level showing a probability of bottoming, so patience in holding positions is advised.
