12.12 Friday Bitcoin and Ethereum Market Review and Future Trends
Let's review today's market. After a strong start for the U.S. stock market on Thursday evening, the market rose throughout Friday morning until it stabilized at the close of the U.S. stock market, beginning to show a pullback. However, the pullback was not significant, with the market consolidating around 92000 before the U.S. stock market opened. After the U.S. market opened on Friday, it fell again. Overall, the market from Thursday to Friday has formed a sideways S-shape, with ETH exhibiting larger fluctuations, but still largely following BTC's trend.
From the current market perspective, the coin price is expected to continue to decline tonight, and if the rebound remains weak, it is very likely to return to the consolidation area around 90000 from Thursday, to form the 'gate' mentioned by Lao Wang. If the decline is serious, it may drop back to around 89000, but the specific situation will depend on detailed market analysis.
From a technical perspective, the coin price has once again breached the middle band of the 4-hour Bollinger Bands, and this downward trend is expected to continue. The KDJ indicator shows a clear downward trend as the three lines converge, so in the short term, there is still potential for gains if one follows the trend by going short at high points. Friends with good entry points can wait to see the market dynamics, but be sure to take profits by reducing positions first. Now we need to see if tonight's downward trend will breach the daily middle band support level at 90000; if it does, Lao Wang will analyze the situation further for everyone.
Basically, the strategy now is to select good positions for shorting high and longing low in order to make quick profits. Lao Wang advises everyone to take a conservative approach to shorting high in the short term; detailed analysis can be done based on specific market conditions.
Operational Suggestions:
Bitcoin $BTC 91000-91500 short, looking to drop to 89000
Ethereum $ETH 3150-3190 short, looking to drop to 3000
