12.16 Tuesday Market Review and Future Analysis of Bitcoin and Ethereum
The overall market volatility today is less than that of the previous period, with the overall coin prices allowing for back-and-forth movements in both directions; it depends on whether we can keep up with Old Wang's strategy for layout. The BTC daily market saw a slow rise from the early morning line of 85000, reaching a daily high of around 88000 when the non-farm payroll data was released in the evening, and ETH also followed Bitcoin's trend. After the U.S. stock market opened in the evening, the coin prices fluctuated back and forth; the U.S. stock market opened lower and then rebounded, but continued to decline afterward. The cryptocurrency market also fluctuated following the U.S. stock market's opening trend, but overall did not show the one-sided market that Old Wang anticipated.
From the current market situation, there are signs of a slight rebound in overall coin prices. On a daily chart level, the coin prices showed a slight rebound after touching the lower Bollinger band, and there is evident pressure above, with the Bollinger bands flattening. On the 4-hour chart, the overall coin prices are still significantly under the pressure of the middle Bollinger band, so we need to pay attention to how the coin prices perform near 89000.
In the short term, the overall coin prices are gradually testing upward, with limited pullback. From a technical indicator perspective, the 1-hour KDJ forms a golden cross above 50, the RSI is around 48.9, showing a neutral to slightly strong state, and the MACD shows a golden cross below the zero line but with weak momentum. In the future market, we can consider light positions for short-term profits! Quick in and out to secure profits is the safest strategy!
Early morning operation suggestions:
Bitcoin $BTC 86500-87000 long, target 88500
Ethereum $ETH 2900-2930 long, target 3000
