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Bitcoin and Ethereum Evening Trading Strategy for December 9

There was no update over the weekend, and some fans were worried about a significant market correction. However, there is no need to be overly anxious. In a bull market, declines often lead to stronger rallies, much like a ball bouncing back after hitting the ground. The bear market is different; the rebound strength gradually weakens and is hard to sustain. Therefore, in a bull market, there is no need to worry too much about declines; instead, focus on market dynamics.

The issues of the Federal Reserve's interest rate cuts and Japan's interest rate hikes mentioned last Friday will become the market focus on the 18th of this month. But please note that the market usually starts reacting 72 hours before major events, so the market is still relatively active at the moment. We should focus on the current market situation and seize opportunities rather than predicting the future too early. The significant fluctuations in Bitcoin last Friday cleared some leverage, bringing about a "clean-up" in the market. It is expected that there may still be a chance for the market to rise before the Federal Reserve's interest rate cut, with short-term operations primarily focusing on buying the dips. At the same time, we must also be cautious of potential adjustments and washouts that may occur at the tail end of the phase, whether it be sideways or downward adjustments. The best strategy is to gradually take profits to avoid sudden large declines in the market.

The market often surprises when most people have the same expectations, just like at a mahjong table where three players are waiting for the same tile; the fourth player joining only increases the difficulty. Therefore, we must remain vigilant, as the market may test investors with prolonged sideways movements and psychological battles rather than a direct decline.

Review of Yesterday:

In the cryptocurrency market, precise market analysis and strategies are crucial for investors. In the midday article analysis on December 8, we successfully predicted the long position strategy for Bitcoin and Ethereum, entering the long position at the lowest point, with the price reaching the target point during the session, resulting in substantial profits. This article will analyze the current market situation and provide midday trading strategies.

1. Market Review

Yesterday, Bitcoin and Ethereum experienced narrow fluctuations, but ultimately both prices closed higher above the key moving averages. From the daily chart, Bitcoin formed two red candlesticks, with the price moving upward along the MA5/10-day moving averages. Ethereum also formed a doji, maintaining its price above the MA5-day moving average.

2. Technical Analysis

Bitcoin Technical Analysis

The narrow fluctuations in Bitcoin yesterday indicate market volatility, but the price once again closed higher above the MA5/10-day moving averages, showing the resilience of bullish forces. On the 4-hour chart, the price retraced and broke below the MA30-day moving average, with the next support line at the 4-hour MA60-day moving average around 9.8. On the 1-hour level, the price has currently retraced and broken below the MA120-day moving average. If it cannot regain the 9.93 level today, the short-term trend may continue to retrace to the 9.8/9.77 level, with operations primarily focused on buying the dips.

Ethereum Technical Analysis

The daily chart for Ethereum shows that two dojis were formed over the weekend, with the price maintaining above the MA5-day moving average. If it breaks below this line, the short-term trend may continue to retrace to the MA10-day moving average around 3830. First, pay attention to the support and resistance at the daily MA5-day moving average of 3950. On the 4-hour chart, the price is currently retracing to the MA30-day moving average, which is also the support at the MA120-day moving average on the 1-hour level. Watch for the support and resistance around 3930.

3. Midday Trading Strategy (Written at 17:00)

Bitcoin (BTC) Trading Strategy

Long Position Strategy: Lightly buy near 9.78/9.7, targeting above 9.9.

Short Position Strategy: Consider lightly shorting above 100,000, targeting 9.9.

Ethereum (ETH) Trading Strategy

Long Position Strategy: Lightly buy near 3900/3840, targeting around 4000.

Short Position Strategy: Follow Bitcoin, primarily focusing on buying the dips.

4. Medium to Long-Term Trend Analysis

The long-term outlook for Bitcoin remains bullish, currently maintaining above the MA5/10-day moving averages, with a focus on buying the dips. Ethereum's upward momentum has slightly slowed, but the price still remains above the daily MA5/10-day moving averages. If it retraces near the daily MA10-day moving average, it could be a good opportunity to buy.

5. 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 wisely to avoid excessive concentration in investments, thereby reducing risk. Additionally, setting stop-loss points is an important part of risk management, helping investors exit in unfavorable market conditions to minimize losses.

6. Conclusion

In summary, the short-term market for Bitcoin and Ethereum shows a trend of upward fluctuations. Investors should combine technical analysis with attention to key support and resistance levels when trading. Additionally, sound capital 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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