The market trend is not significantly different from our expectations, with a minimum spike at 92232. Ethereum spiked at 3100 and rebounded; it still belongs to a downtrend, and the rebound cannot reclaim key resistance, and the downward trend within the rising channel has not ended.
Multiple cryptocurrency companies have donated to the Trump-Vance inauguration committee. Among them, Ripple will donate 5 million dollars in XRP, Coinbase and Kraken each donated 1 million dollars, and MoonPay has also confirmed participation but has not disclosed the specific amount.
The expected year-on-year inflation rate for the U.S. in December is initially set at 2.8%, with an expectation of 2.90%, and the previous value was also 2.90%, which is favorable.
Bitcoin
Bitcoin has broken below the channel and retested the 0.382 spike for a rebound. The range of 90800 to 94150 is also a densely traded area from the previous two spikes. If it cannot reclaim the channel, the downward trend has not ended. The daily line has also hit the lower Bollinger Band with a downward volume, the MACD histogram continues to decline, and the RSI has dropped to a relative area bottom.
The 4-hour channel is under pressure below, and we will pay attention to whether the second test can hold. If it continues to break down, we will wait for a lower low to enter. The MA60 is at 88500, and the starting point of the channel is 83500—85000, which still presents an opportunity to add positions.
Support: Resistance:
Ethereum
It has broken below the M-head with a minimum spike at 3101, which has also dropped to the 0.618—0.5 range, similarly a densely traded area. The next support is at 3000. Even if it later retests the weekly Bollinger Band middle track, it would not be surprising. However, for us, the retest is an opportunity to add positions in batches.
Support: Resistance:
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