Zhou Yanling: Bitcoin is Bearish First and Bullish Later on 12.2, Ethereum is Consolidating at High Levels, Beware of Dumping Risks
Bitcoin has once again reached a resistance level; the pressure point at 99,000 is still a bit tough to chew. Since last week, it has been blocked here three times and has declined. When I saw Bitcoin oscillating at a high level this morning, I realized there was no chance of breaking upwards. As expected, there was a quick pullback around noon. If it were really going to surge, it definitely wouldn't wait until today. The upward trend line has been tested repeatedly in the past few days, trying to break through. Logically, it should be a continuation of the bearish trend now, but Yanling also wants to see if the price of 95,500 can provide support. If the market really breaks down further today, it basically indicates that the bears have returned.
From the market sentiment perspective, since the price can rise, it indicates that the negative impact has not been overly digested. Therefore, we still need to maintain a short-term trading mindset: reduce frequency, observe the trend, and pay attention to the current pressure. The continuation of the downward trend after breaking through needs to be treated with caution. Let's not get too excited; the short-term price has encountered resistance multiple times around 97,600, forming a temporary short-term top. The support level is around 95,500, which has been tested multiple times over the weekend without breaking. The MACD shows that bearish momentum is weakening, with DIF and DEA approaching the zero axis but still in the negative zone, so we need to watch for a golden cross. The RSI is hovering around 50, indicating that the market currently has no clear overbought or oversold signals. The EMA7 and EMA30 moving averages are converging, while EMA120 is far below the current price, indicating that the long-term trend is still upward, but there is still a need for a short-term pullback. In terms of operations, continue to treat it as short-term oscillation, buying low and selling high around the pressure and support levels.
12.2 Bitcoin Trading Strategy:
Short at 97,500-97,000, stop loss above 98,000, target 96,000-95,500, continue to look for a breakdown towards 94,500.
Long at 94,500-95,000, stop loss below 94,000, target 96,000-96,500.
12.2 Ethereum Trading Strategy:
Short at 3,740-3,700, stop loss above 3,780, target 3,660-3,620, continue to look for a breakdown towards 3,570.
Long at 3,560-3,600, stop loss below 3,520, target 3,650-3,685.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on breaking even, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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