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Evening Trading Thoughts for Bitcoin and Ethereum on December 10
Recently, the prices of Bitcoin, Ethereum, and altcoins have been highly volatile, causing retail investors to feel anxious and revealing irrational behavior in the market. These flash crashes typically occur in the early hours after the U.S. stock market closes, when market liquidity is low, making it a peak time for leveraged liquidations. The Coin Victory Group believes that such extreme volatility actually helps the market eliminate restlessness, laying the groundwork for future stable increases. The volatility of altcoins is particularly high, so the Coin Victory Group advises investors to treat altcoins cautiously in contract trading to avoid significant losses due to short-term market fluctuations.
Although Bitcoin has broken through the $100,000 mark, it remains uncertain whether the market has peaked. In the short term, price fluctuations are heavily influenced by market sentiment, which is often fleeting. The market has reacted positively to the new SEC chairman and changes in cryptocurrency policy under the Trump administration, but how long this favorable sentiment will last remains to be seen. Currently, the market is waiting for policy directions from the Trump administration, especially regarding changes after the election, which could affect market sentiment and future trends. The Coin Victory Group suggests that if investors believe the current price is close to a peak, they may consider taking profits and waiting for a market correction to look for bottom-fishing opportunities or to enter the market when it continues to rise.
Review of Yesterday:
In the cryptocurrency market, precise market analysis and strategies are crucial for investors. In the midday article analysis on December 9, we successfully predicted the long position strategy for Bitcoin and Ethereum, entering the long position at the lowest point, and the evening market rebounded to the target point, yielding substantial profits. This article will analyze the current market situation and provide midday trading strategies.
1. Market Review
Yesterday, Bitcoin and Ethereum experienced significant declines, but ultimately both prices closed above key moving averages. From the daily chart, Bitcoin formed a bearish candle with a lower shadow, breaking below the daily MA5/10 moving averages. Ethereum also formed a large bearish candle, directly breaking below the MA5/10 moving averages.
2. Technical Analysis
Bitcoin Technical Analysis
The decline in Bitcoin yesterday showed market volatility, but the price rebounded back above the MA5/10 moving averages, indicating the resilience of bullish forces. On the 4-hour chart, the price is currently oscillating around the MA120 moving average, while on the 1-hour level, it briefly broke below the key support of the MA256 moving average (9.8). We will see if it can regain stability above 9.8 during the day.
Ethereum Technical Analysis
The daily chart for Ethereum shows that yesterday's significant decline resulted in a large bearish candle that directly broke below the MA5/10 moving averages and pierced the MA30 moving average at around 3480. Currently, the rebound strength is weak, failing to recover above the MA5/10 moving averages. On the 4-hour chart, the price is currently oscillating between the MA60-120 moving averages, with attention on the breakthrough of the 3800 resistance level.
3. Evening Trading Thoughts (Written at 17:30)
Bitcoin (BTC) Trading Thoughts
Short Position Strategy: Lightly short near 9.8/9.9, targeting around 9.6.
Long Position Strategy: Lightly long near 9.5/9.42, targeting around 9.7/9.8.
Ethereum (ETH) Trading Thoughts
Short Position Strategy: Lightly short near 3800/3900, targeting around 3700/3600.
Long Position Strategy: Lightly long near 3620/3570, targeting around 3700/3800.
4. Medium to Long-Term Trend Analysis
Bitcoin has once again fallen below the 1-hour MA256 moving average, which is expected to serve as a short-term boundary for bullish and bearish movements, oscillating around 9.8. The daily MA30 moving average has not yet been lost, indicating that the bullish trend is not completely over. Ethereum has seen a significant pullback, so we will first focus on the daily MA30 moving average and the 4-hour MA120 moving average.
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 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 unfavorable market conditions to minimize losses.
6. Conclusion
In summary, the short-term market for Bitcoin and Ethereum shows a downward oscillation 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, so investors should remain vigilant and flexibly adjust their trading strategies.
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