12.30 Zhang Lihui: Bitcoin (BTC) Market Analysis and Trading Suggestions:
Recently, the Ethereum market has been quite frustrating, with the price not achieving significant breakthroughs and still in a state of fluctuation. There are only two trading days left in the US stock market for 2024, and with the New Year holiday approaching, the market may continue to maintain the status quo. We are just waiting to see if the next unemployment claims or non-farm payrolls can create an impact. Of course, Lihui's view on a low long strategy remains unchanged; what we need to do is to defend well and prevent the main force from crashing the market again.
It has been a while since I talked about Bitcoin. After the failed attempt to break the 100,000 mark on the 26th, the price has once again experienced a significant pullback. In the 4-hour chart, the K-line is approaching the previous low and the EMA300 position, which can serve as a key support level and may form a second bottom rebound. Lihui has always believed that Bitcoin's volatility is large, and generally, he does not arrange for entry unless there is a trend correction. Since this opportunity has arisen, we can consider long-term holding. The lower defense can be set at the MA380 position, while the upper pressure continues to consider the MA120 and MA180 range.
On the daily chart, the Bollinger Bands are opening up, and the lower band is approaching the critical crossover support of EMA60 and MA60. This is also an important barrier to defend the 90,000 mark. If it breaks below, do not hesitate and decisively stop loss.
From the weekly K-line perspective, the large-scale bullish trend still exists and has not changed. The closing time is approaching, and the current K-line is at the EMA7 position, intending to test the mid-track and EMA10 overlapping support position. Lihui believes this is also a strong rebound point, but market movements are always unpredictable. What we need to do is to act appropriately at critical positions and continue to trade with a light position concept!
Beijing time, December 30, 2024, 6:42 edited: Lihui suggests lightly going long in the 92,300-92,700 range on a pullback, reserving the 90,800-91,400 range for additional positions; stop loss below 90,000; targets can be held long-term, with short-term targets first looking at 94,600-95,800-96,500; if it breaks above the 96,700-97,000 range, it can continue to be held.
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and the article's suggested points are for reference only. Please ensure to set take profit and stop loss when entering, and take profits when the opportunity arises!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the US, I have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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This article is exclusively published by (WeChat public account: Zhang Lihui) and does not represent any official position. There may be delays in article publication and review, and the above points are for reference only; risks are borne by the reader! May we always carry humility and courage in this complex cryptocurrency world, unafraid of challenges and daring to explore. Just as one travels thousands of miles, "The road is long and has no end; I will search up and down." May we read thousands of books, keep pace with the times, and draw from the fountain of wisdom. Travel thousands of miles, experience wind and rain, witness the scenery, and gain insights into life. May you, under Lihui's guidance, receive advice and create value together. May we always remember the baptism of the market, stay true to our original intentions, and achieve our goals. In this wave of digital currency, let us hold onto our beliefs with Lihui, remain resilient, and forge ahead. May we, hand in hand, compose a magnificent future and share the joy of success. Let us gather in the dynamic world of digital currency, not waste our youth, and create brilliance together. Lihui wishes to embark on this investment journey filled with challenges and opportunities with you.
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