Pionex: Bitcoin 12.24 Latest Market Analysis

Article Published on 2024.12.24 — 10:00 AM

The current price of Bitcoin is 94,100. The long-awaited high has not yet materialized, and it is expected that Bitcoin will experience another pullback. Pionex suggests that everyone pay attention to the key resistance levels between 96,500 and 97,500. The bearish trend remains unchanged; although the price is still some time away from this level, it does not mean that a pullback will not begin. Therefore, Pionex recommends waiting for the key points to arrive or considering going long again before testing the previous lows.

Looking at Pionex's analysis, the recent bearish trend is quite evident. In the four-hour cycle, the price has shown multiple upper shadows at high levels, indicating that the main players are taking profits. The MACD technical indicator is currently in negative territory, and with the DIF and DEA expanding downwards, the overall trend will require external news to stimulate a bullish reversal; otherwise, it will be difficult to recover, and the bearish trend may persist for a long time.

The Relative Strength Index (RSI) is currently around 40, very close to oversold territory. Everyone can wait to enter when extreme oversold conditions arise to catch a rebound. The trend indicator EMA has already fallen below EMA7, EMA30, and EMA120, with all indicators showing a bearish arrangement. Currently, the short-term, medium-term, and long-term trends are all bearish. Previously, the strategy was to go long with the trend, but Pionex has now shifted to a bearish approach, always following the trend.

Today's Pionex Point Predictions

• Long Entry: 93,000; Add Long: 92,000; Stop Loss: 91,500; Target: 95,500
• Short Entry: 96,000; Add Short: 96,500; Stop Loss: 97,000; Target: 93,500

Pionex: 12.24 Ethereum Latest Market Analysis

Article Published on 2024.12.24 — 10:00 AM

The current price of Ethereum is 3,390. Pionex's target of 3,250 was reached yesterday, and it was finally closed at 3,400 for a profit-taking of 150 points, which is sufficient. With only a few days left in the year, the market is expected to be quite calm in the coming days, with no significant fluctuations. Everyone just needs to position themselves at key resistance or support levels.

Looking at the current market sentiment from the candlestick chart, Pionex wonders if everyone has noticed that the recent candlestick prices have been oscillating at high levels, with long upper shadows appearing. What does this indicate? It shows that the main players are taking profits. This recent pullback is a normal phenomenon, and the main players have tested the resistance above 3,400 several times without effectively breaking through, forming a clear short-term top signal.

The MACD technical indicator shows that the upward pullback is encountering strong resistance, and there is a possibility of further downward movement. The RSI is close to 50, indicating a neutral phase. The trend indicator EMA7 is below EMA30, and EMA120 is significantly above the current price, indicating an overall bearish trend. In the short term, attention should be paid to whether the candlestick can stabilize above EMA7 before considering whether to continue the rebound, with a focus on short positions.

Today's Latest Point References

• Long Entry: 3,250; Add Long: 3,200; Stop Loss: 3,150; Target: 3,400
• Short Entry: 3,450; Add Short: 3,500; Stop Loss: 3,550; Target: 3,300

The above analysis by Pionex is based on market data and trend analysis and does not constitute investment advice. It is for reference only. Over the past ten years, Pionex has continuously explored and experienced hundreds of different digital assets. Throughout this process, Pionex has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons. As a female trader striving in this challenging field, Pionex feels a responsibility to share her insights, hoping to help others with dreams find their place in this unpredictable market and embark on their own successful journey.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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