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 18, 13:28 Beijing time
Market Information
- Yesterday, the net inflow amount of spot BTC ETF reached a new high in nearly two weeks;
- U.S. President Trump stated that the U.S. is preparing for historic economic prosperity;
- Trump: The new chairman of the Federal Reserve will agree to significant interest rate cuts;
- U.S. President Trump stated that next year will be the largest tax refund season in history;
- The Federal Reserve officially cancels the 2023 policy restricting banks from cooperating with Bitcoin;
- Bitcoin fell back after reaching $90,000, leading to $148 million in liquidations within an hour;
Market Review
Yesterday, Bitcoin experienced fluctuations during the day and then surged quickly in the evening, reaching a peak at $30,350, before rapidly dropping to $85,282. Many bulls in the market who did not exit in time were liquidated again. Ethereum rose to $3,029 before falling to $2,787, close to the support level of $2,750;
Market Analysis
Bitcoin
Previously, we recommended setting up long positions around $86,400, targeting above $90,000. Yesterday's rebound provided us with an exit opportunity, which basically met expectations, yielding a profit of around 3,600 points. Subsequently, the market quickly dropped, liquidating some bulls. The 4-hour chart shows a long upper shadow, and the 200-day moving average above is also under pressure. Currently, the 4-hour line is in a strong bearish position. A breakthrough above yesterday's high is needed for a higher surge. The market is testing short-term support around $85,500 again. Currently, the 4-hour chart has formed two bullish candles, indicating that short-term support is effective, and there is a greater chance for a rebound. For short-term trading, long positions can be set up again, with the current price around $86,500. A stop-loss is recommended at $85,000, with a target first looking at $89,000. After reaching that, pay attention to the breakthrough situation of yesterday's high at $90,350. Manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses;
Ethereum
Ethereum's overall trend is slightly weaker, and the upward momentum is not strong. Our previous long position at $2,940 targeted around $3,170, but the maximum rise only reached $3,029. Those who did not exit in time with Bitcoin were stopped out. (I suggest that when trading Ethereum, you can benchmark against Bitcoin. When Bitcoin is set up, Ethereum can follow suit, and the exit should be the same; Bitcoin is still the market leader.) Looking at the 4-hour chart, Ethereum is relatively weak, and the previous low of $2,871 has also been broken. The next support level is around $2,750. For short-term trading, you can set a stop-loss around the support level of $2,750 to capture small rebound opportunities. I recommend setting up around $2,810, with a stop-loss at $2,710, targeting $2,950. After reaching that, pay attention to whether the high point of $3,029 can be maintained; if it breaks through, set up new positions accordingly. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin is testing support again in the short term and is likely to rebound. Pay attention to the breaking of short-term highs;
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 advantage of 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 pursuing 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 going, people in the cryptocurrency world.
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