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1: On December 24 at 21:30, the number of initial jobless claims in the U.S. for the week ending December 20 (in ten thousand)
2. According to CNBC: Sources familiar with the situation revealed that U.S. President Trump may appoint a new Federal Reserve Chairman in the first week of January next year.
Review: After two days of low-volume sideways movement over the weekend, Bitcoin and Ethereum saw a short-term rapid increase at 8 AM on Monday after a continuous decline. However, this surge lasted less than three minutes, and Ethereum again showed a short-term high point in a sideways trend. The main players are keeping retail investors trapped in a range, causing them to suffer. After last week's CPI, the anticipated interest rate hike from the Bank of Japan did not materialize, creating a feeling that all the bad news has been priced in, leading us to focus this week not on bullish or bearish sentiments, but on when a new directional breakout will occur. The first breakout direction is not about getting in, but about who gets shaken out.
Bitcoin: The key levels for Bitcoin on the 4-hour chart show resistance at 89100-90600 above and support at 87800-87000 below. Simply put, until it stabilizes above 89100, any volume-less upward rebound should be seen as a market correction. Do not rush to chase after a slight rebound; impulsive actions may lead to buying at the peak or halfway up, making it hard to exit. If it fails to break above the 89000-90000 range, it is likely to face selling pressure again. A drop to around 87800 could be a more comfortable entry point, so do not act impulsively when it rises; instead, watch for signs of upward movement before making a decision. Similarly, do not panic if it drops; reaching the support level could present a good buying opportunity. Overall, the current bearish trend has not been fully corrected, and our main strategy remains to focus on short positions while looking for opportunities to enter at lower levels, either through spot trading or medium-term setups.
ETH: Ethereum is currently completely following Bitcoin's lead. Although there has been a short-term bullish rebound in the daily downtrend channel, the resistance at 3070 seems insurmountable. The lack of volume below 2780 has led to a lack of sustainability in the counterattack. Recently, gold and the A-shares market have drained liquidity from the market, resulting in a stagnant market.
Intraday Trading View (Focus on short positions, and make short-term buys at low levels)
ETH price 3070-3090 short position, take profit at 2930-2850, stop loss: 3145
BTC 90600-90300 short position, take profit at 88000-87500, stop loss: 91300
Statement: Do not change stop losses lightly; take profit can be flexibly chosen near target levels. In summary, follow the strategy of high shorts and low longs, moving with the main players' rhythm.
Price levels are time-sensitive, and there may be delays in posting, so please refer to real-time market conditions. Lastly, remember the two key points mentioned in my previous article: focus on trial positions in the short term, and once we move out of our target range, it will be the last opportunity to make significant gains before the end of the year. I am Tommy from K-line Life, your real-time crypto steward.
For more analysis on related cryptocurrencies, please follow the official account for details.↓
Mainly focused on spot, contracts, BTC/ETH/ETC
Specializes in style: K-line trading
Original Volume Trading Strategy.
Short-term swing highs and lows, medium to long-term trend trades, daily extreme pullbacks, weekly K-line top predictions, monthly K-line head predictions.
Official Account QR Code (K-line Life Tommy)
Friendly Reminder: The official account at the end is created by the author!!
Please be cautious in distinguishing authenticity, thank you for reading!
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