Pionex: Bitcoin Latest Market Analysis on 12.29
Article Published on 2024.12.29—03:15
The current price of Bitcoin is 94,850. Pionex first analyzes the price trend; the current K-line pattern is fluctuating around 95,000, which is a typical downward trend. The previous high was 99,950 on the 26th, and the low was 93,440 on the 27th. The technical indicator MACD shows strong bearish momentum but is showing signs of narrowing, indicating a possible rebound.
The Relative Strength Index (RSI14) is currently at 44.5, indicating some retracement pressure. The trend indicators EMA for short-term, medium-term, and long-term are all in a bearish arrangement. Therefore, Pionex maintains a bearish outlook, suggesting to short on rallies. The trading volume indicates increased market activity; after a volume increase during the decline, the trading volume is gradually decreasing, indicating reduced selling pressure and stabilizing market sentiment, with an overall bearish trend.
Today's Pionex Price Predictions
- Long Entry: 94,000, add long at 93,000, stop at 92,500, target 95,500
- Short Entry: 96,000, add short at 97,000, stop at 97,500, target 94,000
Pionex: Ethereum Latest Market Analysis on 12.29
Article Published on 2024.12.29—03:15
The current price of Ethereum is 3,400. From the K-line pattern, it can be seen that it is fluctuating within the range of 3,300 to 3,400, showing an overall oscillating trend. After a previous sharp decline, there are signs of a rebound, but there is significant pressure above. The technical indicator MACD shows weakening bearish momentum and has signs of a golden cross, indicating that bulls may take advantage of this, but the overall trend remains bearish, so it is advisable to primarily short at resistance levels.
The Relative Strength Index (RSI14) is close to 50, showing no obvious overbought or oversold signals. The current price is above EMA7 but below EMA30 and EMA120. Although there are suspicions of bullish momentum in the short term, the medium to long-term trend remains bearish. Additionally, Pionex has noticed that the trading volume of the recent K-lines has been relatively stable, with no significant increase or decrease, which is likely a false signal for bulls. The strategy remains to short at resistance levels and consider going long only after a bottom is found.
Today's Latest Price Reference
- Long Entry: 3,350, add at 3,300, stop at 3,250, target 3,450
- Short Entry: 3,450, add at 3,500, stop at 3,550, target 3,350
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 insights and hopes to help others with dreams find their place in this ever-changing 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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