On December 8, how many stop-loss orders are hidden in this market?
First, let's talk about Ethereum - from 3040 it dropped straight through to 2910, and many thought it was entering a deep correction. However, in the early morning, the spike above 3130 directly hit 3010, providing ample room for two rounds of decline. Now both $BTC and $ETH are stuck in a state of tension after probing for a rebound, with expectations of a Federal Reserve rate cut still stirring market sentiment.
$BTC Bitcoin's movement is more dramatic. Overnight, it touched a low of 87688 USD, then instantly surged to 91720, before falling back to oscillate above 90000. From a daily perspective, the MACD histogram is expanding upward, and the bulls still have strength, but the EMA30 resistance is stuck at 93600, while the upper Bollinger Band is guarding the 94500 line. Switching to a four-hour cycle, the MACD is nearing the end of its contraction; if it can hold above 92000, the probability of a golden cross between DIF and DEA is quite high.
The current key battleground is between 87000 and 92000. There is a clear buy support in the range of 87500 to 88000, while 92600 is a hurdle above; once breached, the upward space will be opened.
$ETH Ethereum displayed a textbook-level V-shaped reversal. After dipping to 2910, it quickly surged, once reaching around 3160, with an increase of over 8%; currently, after a pullback, it has again stabilized above 3130. Technically, the daily MACD bullish momentum appears slightly fatigued, and the four-hour chart shows signals of a trap followed by a surge. Resistance is concentrated in the 3180-3200 range, and above that, we look at 3250; the core defense line below is at the 3000 round number, with the range of 2900-2950 being the position the bulls must defend; whether it can hold directly determines the subsequent direction.
