Preface: Investment carries risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: December 22, 14:40 Beijing time
Market Information
- The Federal Reserve plans to inject about $6.8 billion into the market tonight;
- The Hong Kong Insurance Authority intends to formulate new regulations to guide insurance funds into the cryptocurrency and infrastructure sectors;
- U.S. federal banking regulators confirm that banks can engage in cryptocurrency-related businesses;
- Trump claims that the Federal Reserve Chair has the easiest job in the world and lists candidates to succeed Powell;
- Federal Reserve's Harker: Neutral interest rates may be higher than generally expected;
Market Review
Over the weekend, Bitcoin was basically in a volatile trend, with a slight rise in the early morning today, currently peaking at 89,615, breaking through the short-term high of 89,468; Ethereum's short-term peak is at 3,062, breaking through the short-term high of 3,029;
Market Analysis
Bitcoin
Previously, I mentioned that Bitcoin could be shorted if it closed with an upper shadow near 88,400. If it breaks through 98,468, it can be chased up to 91,000; the current price has already broken through 98,468, and a rebound opportunity will also come in the future. On the daily chart, there have been multiple supports near 85,500, and the short-term downward channel has been broken by the daytime rise. In the future, Bitcoin will test the pressure near 94 again. On the weekly level, it also closed near support and formed a doji star again, with rebound signals on a larger scale. In future trading, we will mainly focus on buying on dips, and long-term positions should continue to be held. For short-term trading, you can directly set up long positions near 88,800, with a stop loss recommended at 87,000, targeting first at around 92,000. After reaching that, pay attention to whether the pressure at 94,000 can be broken. If broken, it will be 98,000. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
Ethereum
Ethereum's support at 2,750 is also re-established. The rise of Ethereum during the day is stronger than Bitcoin, and the trend is basically similar to Bitcoin, breaking the short-term downward channel. In the future, Ethereum will continue to rise, with the short-term target range set at 3,190-3,300. After reaching that, pay attention to the breakthrough of the high point at 3,446. If broken, it will move towards 3,600-3,700. This wave of Ethereum's rise has a good chance of breaking through, and the previous upward momentum has been relatively strong. Long-term positions in Ethereum can continue to be held, and for short-term trading, you can also directly chase long positions near 3,020, with a stop loss recommended at 2,920, targeting the 3,200-3,300 range. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
In summary:
Bitcoin and Ethereum have both broken the volatile trend in the short term, with greater rebound opportunities in the future;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
In the cryptocurrency world, some people's demands can only be met by scammers. Everything cheap must be taken by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every transaction goes as planned. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I pay more attention to psychological development. Most people do not fail against themselves but against the self that confines them in a room. Even if life or trading is unsatisfactory, believe that there is light in the world and love among people. Even a small piece of happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep it up, cryptocurrency people.
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