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December 20 Bitcoin and Ethereum Market Review and Analysis:
Bitcoin:
In recent market dynamics, Bitcoin has experienced a significant pullback. From the daily chart, the price has sharply retraced from the 10.8 level to the 9.6 level, with a pullback of 10,000 points. This pullback is not only strong but the current price has also fallen below the daily MA30 moving average, marking the first time since the start of this bull market. Therefore, we need to closely monitor whether the market can regain a position above 9.75. On the 4-hour chart, if the short-term continues to maintain a pullback trend, the lower MA256 moving average at around 9.4 will become a short-term support level, and the outcome of this level will be crucial.
Ethereum:
The 4-hour chart shows that it is currently in a continuous decline, with the rebound space already at a short-term high but the strength remains weak. After breaking the 3820 level earlier, the market has shifted from a previous bullish trend to the current bearish trend. The current range for box adjustment is between 3120-3150 at the low end, with a high reference near 3820, and the mid-range reference around 3450. This means that the further the market is below the mid-range line, the greater the space for a long rebound, and the relatively lower the risk. Conversely, if one wants to short, they can refer to the upper values deviating further from the mid-range line, as the space for a pullback will be relatively larger.
Market Trend Analysis
From the previous daily structure, we can see that from the 14th to the 17th, the overall trend was still clearly bullish. However, in the K-line on the 18th, this trend was broken as the short-term moving averages entered a pullback phase. When the K-line structure operates below the short-term moving averages, we will not blindly hold a bullish view or be overly aggressive. Fibonacci has provided a clear first support break signal at 3820, making a bearish outlook more reasonable. After the break, our thinking needs to adjust to reference the first resistance point near 3820, and then use the lower structural box at 3120-3150 as a low reference. The conclusion drawn is that there is a significant possibility for a pullback, and indicators have also provided clear signals, with the bottom MACD bearish bars continuing to expand, indicating a higher likelihood of further bearish momentum.
Evening Trading Strategy (Written at 18:30):
BTC: It is recommended to lightly short near 9.68/9.75, targeting 9.45/9.28; consider going long near 9.45/9.35, targeting 9.65/9.8.
ETH: It is recommended to lightly short near 3420/3380, targeting 3200/3250; consider going long near 3220/3150, targeting 3380/3420.
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This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. We will continue to monitor market dynamics and update analysis and trading strategies in a timely manner. Thank you for your attention and support. We mainly focus on contracts for BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile lock-up strategies around high and low support and resistance for short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
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