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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 3, 14:04 Beijing time
Market Information
- Market expects a 90% probability of the Federal Reserve lowering interest rates in December;
- Republican members of the U.S. House of Representatives confirm that "Operation Choke Point 2.0" targets Bitcoin and crypto companies;
- BlackRock CEO will discuss Bitcoin and cryptocurrencies at a New York Times event;
- Former SEC Chairman Gensler: Cryptocurrencies are highly speculative and volatile, with Bitcoin being the only exception;
- The Trump administration cancels a series of interviews with candidates for Federal Reserve Chairman;
- Trump: Former Bitcoin exchange advisor may become Federal Reserve Chairman;
Market Review
Yesterday, it was mentioned that there would be a rebound during the day, and the market moved as expected. As of now, Bitcoin has rebounded to a high of 93,625 and is still rising, while Ethereum reached a high of 3,069 and is also continuing to rise. Currently, the bulls are strong, and there will be further increases in the future;
Market Analysis
BTC:
Yesterday, we recommended that everyone take a long position, targeting around 91,000, with a profit of at least 3,000 to 4,000 points. This level is a short-term 4-hour resistance level. We also mentioned that long positions can be held with confidence. If the daily close stabilizes around 91,300, it can be chased for further gains. Currently, on the 4-hour chart, we can see that Bitcoin's short-term rebound has broken through previous resistance around 93. The previous short-term pressure formed near the high has also been surpassed. We are currently in a strong bullish phase, and this rebound needs to reach at least the 97,000 to 98,000 range before a pullback occurs. Those without positions can directly chase the rise, targeting 97,000 to 98,000, with a stop loss set 2,000 points below. For a more cautious approach, one can wait for a rebound to around 98 to receive a short signal before entering a short position. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
ETH:
For Ethereum, our target yesterday was around 3,010, which was achieved, yielding a profit of about 300 points. Ethereum's movement is not as strong as Bitcoin's and has not yet broken through the short-term high of 3,098. However, as Bitcoin rises strongly, Ethereum will follow. This rebound is expected to target around 3,280. Aggressive traders can directly take long positions near 3,050, with a stop loss at 2,950, targeting around 3,250. After reaching near 3,280, one can consider shorting based on the market trend. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
In summary:
Both Bitcoin and Ethereum show bullish trends in the short term, continue to go long;
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 crypto world, some people's demands can only be met by scammers. Everything cheap must be taken advantage of by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every trade goes as planned. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I focus more on 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, crypto community.
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