Mu Feng looks at the trend: Interpretation of the intraday performance of the market on 12/16 and operational ideas.

CN
1 month ago

During the early trading hours, Bitcoin and Ethereum bulls have surged significantly. Currently, the mainstream strong volume has set a good tone for the market this week. Looking at the weekly chart, the upper Bollinger Band is accelerating open, and the KDJ and MACD golden crosses continue to strengthen. The main chart's MA5 and MA10 moving averages are still trending upwards this week.

On the daily chart, the KDJ continues to golden cross upwards today, and the overall Bollinger Band is oscillating upwards. The main chart's three-day moving averages are continuing to align upwards with varying degrees (the increase of the MA30 moving average is accelerating). Therefore, in the short term, it is still advisable to maintain a bullish outlook. The intraday short-term trend is expected to be oscillating (as there has already been a surge in volume this morning, the afternoon and evening market volume will likely weaken somewhat). The suggested trading strategy is to buy on dips in batches, with specific points of reference as follows:

BTC: Buy between 104200-103200, target 106200

ETH: Buy around 3940-3900, target 4040

The above is my personal intraday market analysis, first published on "WeChat Official Account: Mu Feng Looks at Trends." Feel free to exchange and learn together!

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