Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: December 16, 10:57 AM Beijing Time
Market Information
- Bitcoin founder Satoshi Nakamoto has become the 16th richest person in the world due to the surge in Bitcoin prices;
- Bitcoin has consolidated a seven-week upward trend, setting the longest weekly increase record since 2021;
- Factors such as expectations of interest rate cuts by the Federal Reserve have driven BTC to a new high, rising 20% in the past month;
- Société Générale: It is expected that the Federal Reserve will adopt a hawkish interest rate cut policy;
- Trump: Will do great things in the cryptocurrency field and will establish a Bitcoin strategic reserve;
Market Review
Over the weekend, Bitcoin was influenced by some market news, including statements from Trump and expectations of interest rate cuts. These factors led institutions to leverage the news to drive prices up, resulting in a rebound that refreshed the high point. At 8 AM, the daily and weekly charts first reached a maximum point at 106,684. The long positions we recommended on Friday were also stopped out, with a maximum loss of about 2000 points. Ethereum oscillated below the 4000 pressure level over the weekend, with a minimum drop to 3824, and then followed Bitcoin to rebound. The daily chart did not break down, and after the change in the chart, it broke through, reaching a maximum point at 4026, with losses around a hundred points. Currently, after the price rebound, there may be a chance for a pullback during the day, so do not blindly chase highs;
Market Analysis
BTC:
From the daily chart, although Bitcoin is rising, it is still within an upward channel. The previous rebound did not approach the upper part of the upward channel. Currently, as Bitcoin approaches the upper part of the upward channel, it has formed a long upper shadow. Although the daily line has not yet closed, short-term pressure still exists, and the expectations for interest rate cuts are not as strong as before. The market has already seen significant gains, and to continue rising, institutions need to inject funds continuously. After Trump's policies are implemented, there may still be significant opportunities for further increases. Currently, the rise is slow, and after refreshing a high point, there is a high chance of a pullback. There are opportunities for institutions to offload at the upper levels. In the short term, the 4-hour chart also shows a long upper shadow. If this upper shadow remains at the 12 o'clock change, then a short position can be arranged to catch a pullback, with a drop range of 99,000-96,800, using the previous high as a stop loss. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
ETH:
From the daily chart, the rise of Bitcoin has prevented Ethereum from continuing to pull back. The daily close of Ethereum in the morning did not effectively break through 4000. After the change, it saw a rise, but currently, the price has pulled back. The 4-hour chart also shows a long upper shadow. At the 12 o'clock change, Ethereum is unable to stabilize at the 4000 level, and it still needs to pull back first. The pressure above still exists. For short-term trading, a short position can be arranged around 3980, using the previous short-term high as a stop loss, with a target range of 3670-3575. When it reaches around 3575, if the 4-hour chart shows a long lower shadow, a long position can be opened. Please manage your entry; for short-term trading, control risks and manage your own profits and losses;
In summary:
After the short-term rise of Bitcoin and Ethereum, there is still pressure above, and both have opportunities for pullbacks;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
Follow the WeChat public account Crypto Lao Zhao to discuss the market together;
All suffering stems from the pursuit of certainty. Impermanence is the norm and the way life should be. Always wanting to grasp the market, not acting on a 50% certainty, not acting on a 70% certainty, must wait for a 100% certainty—where is there a 100% certainty in the market? Trading is about trading risks, trying to make the odds stand on your side. Those who give love receive love in return; blessings come to those who give blessings. Sometimes, learn to take a little loss, be a bit foolish, a bit clumsy. For example, if the market is bullish, once this is confirmed, don’t get too stuck on the position, lower the position size a bit, and then get in first; if it reverses, so be it.
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