12.24 Morning Analysis of Bitcoin and Ethereum
Good morning, friends. Today is Wednesday, which is Christmas Eve in the U.S., and the U.S. stock market will be closed on Thursday, so the volatility will be minimal. Essentially, the fluctuations will depend on tonight's market. Old Wang mentioned early this morning that Christmas Eve might not be "peaceful"!
From the current market perspective, the price of Bitcoin is around 87500. After rebounding from a low of 86600 in the evening, it encountered resistance from the upper boundary of the 1-hour cycle and the MA60/MA90/MA280 three-line resistance. The technical pattern shows that the upper Bollinger band is narrowing down, indicating that the upward space is limited; the MACD green histogram shows signs of diminishing energy, with the DIF and DEA forming a converging pattern. The KDJ three lines show a signal of topping out, indicating a risk of short-term pressure and adjustment. It is recommended to pay attention to the three-line resistance for short positions.
In the 4-hour cycle, the lower Bollinger band continues to extend downward. Although it has not yet broken through the evening low, the K-line shows significant resistance at the middle track. The MACD red histogram energy is gradually declining, and the DIF and DEA dead cross is widening. The resonance of technical indicators strengthens the bearish signal, suggesting that there is still space for short-term oscillation and decline. Short positions need to guard against a second breakthrough risk of the middle track while leaving room for upper track replenishment to cope with technical rebounds. It is advised to mainly focus on short positions under pressure during rebounds and dynamically adjust stop-loss levels to control risks.
Operation Suggestions:
Short Bitcoin at 87800-88300, targeting around 86000.
Short Ethereum at 2980-3020, targeting around 2900.
