Preface: Investment carries 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 17, 15:35 Beijing time
Market Information
- Despite Vancouver's proposal to become a "Bitcoin-friendly city," British Columbia still maintains its ban on Bitcoin mining;
- Global ETF Bitcoin holdings exceed 1.3 million coins, with BlackRock's IBIT, Grayscale's GBTC, and Fidelity's FBTC ranking in the top three;
- Research: Singapore holds a global leading position in cryptocurrency technology, surpassing the United States;
- Trump attended the Blockchain Association's annual gala, promising that Bitcoin and cryptocurrencies will thrive in the United States;
- Trump: I aim to rebuild the world's largest economy;
Market Review
Yesterday, we anticipated a pullback opportunity for Bitcoin, and the daytime pullback did occur, but it was too small, with the lowest point at 103,324. The profit from shorting was only about 1,500 points. Those who took protective measures did not incur losses, while those without protection had to stop-loss and exit. As of now, Bitcoin's high point is at 107,833. The drop during the day was quickly recovered within a few minutes at night, and then it refreshed its high. Currently, there are not many opportunities for a significant pullback; Ethereum also provided a pullback opportunity during the day, with the lowest point at 3,883, which was only an 80-90 point pullback. It then surged and stabilized above 4,000. If it holds this position, the market will only move upwards, so do not short anymore;
Market Analysis
BTC:
From the daily perspective, Bitcoin's daily closing did not form a high-position doji but rather a large bullish candle. Considering some current market news, Trump's continuous positive developments for the cryptocurrency market, although the Federal Reserve's interest rate cuts are not as impactful as before, in a strong bullish market, it is just icing on the cake. The closing did not show any signs of decline, and the daytime trend did not provide a pullback. The previous high of 107,833 is about to be broken again, and reaching 110,000 in the future will not be difficult. For short-term trading, if there are no pullback opportunities, then just enter at the current price, starting with a light position, and you can add more later. The target is set above 110,000; manage your entry opportunities yourself. For short-term trading, control risks and manage your own profits and losses;
ETH:
From the daily chart, Ethereum's recent surge has broken the previous short-term high of 4,096, reaching 4,109. As long as Ethereum effectively holds above 4,000, this position will turn from resistance to support. Coupled with Bitcoin's rise, Ethereum will definitely be driven up as well. Currently, after breaking the high, if the market rises again above 4,109, Ethereum will accelerate its rebound, with the next target around 4,300. The daytime trend also did not provide a pullback opportunity, and the daily closing is not a strong short signal. In trading, you can follow Bitcoin's strategy, starting with a light position, and add more later. After Ethereum breaks above 4,100 again, the upward momentum should not be small, with a target around 4,300; 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 broken their highs, and the market will continue to rise;
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;
Everything, the root of suffering is the pursuit of certainty. Impermanence is the norm and the way life should be. Always wanting to grasp the market, not acting on a 50% certainty, not acting on a 70% certainty, must wait for a 100% certainty—where is there a 100% certainty in the market? Trading is about trading risks, trying to make the odds stand on your side. Those who give love will receive love in return; those who bring blessings will 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 rigid with your position, lower your leverage a bit, and then just get in first; if it reverses, so be it.
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