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Bitcoin and Ethereum Trading Strategy for December 5th
Bitcoin has broken through the $100,000 mark, marking the arrival of a bull market. The Coin Victory Group had previously predicted this trend and pointed out that $110,000 to $120,000 is the next possible target range. We emphasize that although altcoin projects may seem attractive, in the early stages of a bull market, funds often flow back to Bitcoin and Ethereum. Therefore, we recommend that investors focus on these two major currencies.
The Coin Victory Group reminds investors not to be misled by the short-term gains of altcoins, as they still have a significant gap compared to Bitcoin and Ethereum. During market corrections, the risks of altcoins are higher, and investors may become victims of market manipulation. For those holding short positions, we point out that the overall market trend remains bullish, and sticking to a bearish view may lead to missed opportunities.
The Coin Victory Group believes that the period from now until March next year will be the most wealth-generating phase of the bull market. The market will shift from Bitcoin's solo performance to a celebration across the entire cryptocurrency space. Investors should seize the opportunity during pullbacks to ensure they are on board rather than getting off midway. At the same time, avoid over-reliance on technical indicators; do not let emotions dictate decisions, but rather focus on the trend and act accordingly.
In the cryptocurrency market, the price fluctuations of Bitcoin (BTC) and Ethereum (ETH) always capture the attention of investors. In the midday analysis on December 4th, we provided a long position strategy at 9.62/9.55 and a long position strategy for Ethereum at 3650/3600. Yesterday's daytime market was mainly characterized by weak fluctuations, but it began to gradually increase in volume and strongly broke through the $100,000 psychological barrier early this morning. This article will analyze the current market situation and provide trading strategies.
I. Market Review
Yesterday, the market for Bitcoin and Ethereum was mainly characterized by weak fluctuations, but it began to gradually increase in volume early this morning. Bitcoin strongly broke through and stabilized above $100,000, while Ethereum also performed well. This trend is consistent with our previous analysis, showing a strong return of bullish sentiment in the market.
II. Technical Analysis
Bitcoin Technical Analysis
From the daily chart, the rise of Bitcoin last night and the increase in volume during today's Asian session led to three consecutive red K-lines on the daily level, and it strongly broke through and stabilized above the MA5/10-day moving averages. The weekly level also bounced back after touching the MA5 and is moving upward again, with the market shifting from previous consolidation to a strong bullish trend. On the 4-hour chart, the price has continuously closed with bullish candles and has broken through and stabilized above all moving averages, with the trend returning to a bullish market. Focus on buying on dips at the MA5/10-day moving averages on the 1/4-hour chart.
Ethereum Technical Analysis
The daily chart for Ethereum shows that yesterday's K-line closed with a large bullish candle, and the price rebounded strongly to the 3900 high after touching the daily MA10 line. We continue to treat the day as bullish and wait for opportunities to catch up. The 4-hour level is currently still above the MA5/10-day moving averages, so we should look for buying opportunities on dips.
III. Evening Trading Strategy (Written at 18:30)
Bitcoin (BTC) Trading Strategy
Long Position Strategy: Lightly buy near 10.16/100,000, targeting above 10.3;
Short positions are not currently considered; wait for a pullback opportunity to go long.
Ethereum (ETH) Trading Strategy
Long Position Strategy: Lightly buy near 3840/3780, targeting above 3900/4000, and wait for a pullback to catch up.
IV. Medium to Long-Term Trend Analysis
Since Bitcoin has not completely lost the $9.45 level as analyzed in recent articles and has strongly broken through the psychological price of $100,000, the trend has shifted to a strong bullish opportunity. Wait for a pullback opportunity to go long. For Ethereum, wait for a pullback opportunity to make long positions targeting 4000 and this year's new high of 4100.
V. Market Sentiment and Risk Management
In the current market environment, investors need to remain cautious and closely monitor changes in market sentiment. Due to the high volatility of the cryptocurrency market, investors should allocate funds reasonably and avoid excessive concentration of investments to reduce risk. Additionally, setting stop-loss points is an important part of risk management, helping investors exit in a timely manner during unfavorable market conditions to minimize losses.
VI. Conclusion
In summary, the short-term market for Bitcoin and Ethereum shows a strong upward trend. Investors should combine technical analysis when trading, paying attention to key support and resistance levels. Additionally, reasonable fund management and risk control are key to successful investing. In the medium to long-term trend, both Bitcoin and Ethereum show certain support, but market sentiment and macroeconomic factors may still impact prices. Investors should remain vigilant and flexibly adjust their trading strategies.
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