Preface: Investment involves risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: December 13, 10:19 Beijing time
Market Information
- Donald Trump's World Freedom Finance continues to accumulate LINK and AAVE;
- Greeks.live: This week's market is mainly focused on adjustments, as Christmas and annual settlements approach, market makers are starting to adjust their positions;
- Trump remains keen on strategic crypto reserves, aiming to make the U.S. an industry leader;
- Trump: Will promote the development of cryptocurrency and artificial intelligence, emphasizing the importance of the stock market;
- Argentine President Milei announced plans to implement a free currency circulation program next year, which may include Bitcoin;
Market Review
At the end of last month, I reminded everyone that Bitcoin would continue to rebound above 100,000. At that time, the price was around 95,500, and so far the high point has reached 104,630. Most of the longs around 92,000 have basically made profits. After reaching this high point, Bitcoin did not continue to push higher but instead showed sustained fluctuations at high levels. In the short term, it is expected to undergo a wave of correction before continuing to rise; Ethereum, after breaking through the 3,570 resistance, has turned that resistance into support. Even those who went long around 3,570 are basically in profit. Although it hasn't risen as much as Bitcoin, it has also broken through 3,980 to reach around 4,090, just shy of breaking the short-term high. Overall, the performance of Bitcoin and Ethereum in the past half month has been strong for bulls, rebounding as expected. After the rebound, how should we position ourselves in the short term? Will the market continue to push higher during the day? Let's do a simple analysis below;
Market Analysis
BTC:
From the daily chart, Bitcoin is currently in a high-level fluctuation. However, after returning above 100,000 yesterday, it did not directly push higher to refresh the high point. Overall, Bitcoin remains strong for bulls, and an upward channel has formed above, although it is moving relatively slowly. The daily closing line showed a bearish candle, indicating that this rebound still needs some strength to continue. There is a high chance that it will test the lower part of the upward channel again before moving out. Last night's surge did not break out, and a correction is needed in the short term. The expected correction point is in the range of 97,300-95,800. After reaching this range, we will look for a breakdown situation to see if there is a rebound opportunity. In the short term, we can catch a small wave of correction, targeting the 97,300-95,800 range, using yesterday's high point as a stop loss for positioning. If you don't want to short, wait for a correction to this range before going long. Manage your entry yourself; for short-term trading, control risks and manage your own profits and losses;
ETH:
From the daily chart, Ethereum has turned the 3,570 resistance into support after breaking through that level. The subsequent decline just reached that position before starting to rebound. Last night's surge touched around 4,000 but did not continue to rebound. The daily chart showed an upper shadow, indicating that the upper pressure at 3,960 is effective, and the pressure has not broken out. During the day, we need to first look for a correction opportunity, using last night's high point of 3,986 as a stop loss for positioning. The downward target range is 3,670-3,585. After approaching the lower support near 3,570 again, we can look for a surge. Manage your entry opportunities yourself; for short-term trading, control risks and manage your own profits and losses;
In summary:
Both Bitcoin and Ethereum have not broken through in the short term, presenting correction opportunities. Manage your opportunities yourself;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
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 trading at a 50% certainty, not trading at a 70% certainty, must wait for a 100% certainty—where is there 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; those who bring blessings receive 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 your position a bit, and then get in the car first. At worst, it will reverse.
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