December 24th, Wednesday evening BTC/ETH Silk Road sharing
Today is Christmas Eve, wishing everyone a Merry Christmas Eve! Currently, the market is at a critical stage, with Bitcoin stuck in a dilemma within a range. From the trend, it seems that the market may become clearer after Christmas, so if you're not in a hurry to act, it's also good to take a break; if you want to participate, you can try short-term trading with a small position.
First, let's analyze from the daily level: the strong resistance above is at 94000, and the key support below is at 85000. Recently, the daily chart has shown a bearish signal of a "Evening Star" pattern, and if another bearish candle forms, the trend may further weaken. At the same time, the daily chart is constructing a potential top arc structure, with the neck line around 84000. In terms of indicators, although the MACD maintains a golden cross, the upward momentum has clearly weakened, and the RSI has formed a death cross, indicating that the momentum at the daily level is gradually weakening.
Next, let's observe from the four-hour level: the price is currently at the intersection of small and large trend lines, which is a sensitive position. If it wants to strengthen in the short term, it needs to break through 89300, and then challenge 91000; if it falls below 84500, it means that the upward structure since the end of last year may be damaged, and the downward trend may be confirmed.
Overall, the market has entered a critical stage, with signs of weakening appearing on the daily chart. It is recommended to remain cautious in operations and closely observe the support strength in the 84500 to 85200 area. If it can hold, the market can still maintain volatility; if it fails to hold, the trend may turn downward.
Bitcoin 87700-88200 range for trading, target around 85400
Ethereum 2990-3010 range for trading, target around 2850
