U.S. stock markets closed lower, with the Dow Jones down 0.97%, the S&P 500 down 1%, and the Nasdaq down 1.19%. Bitcoin briefly dropped below 91,500 before rebounding to 95,000 and continuing to decline, with intense short-term volatility.

Today marks the last day of the year, quarter, and month in 2024. Based on the doji star formed in the weekly closing over the past two days, the market still appears weak. Although there is support around 90,000, the rebound strength is insufficient. The monthly closing is likely to be a doji star, indicating a continuation of the upward trend. Currently, we are watching the monthly pin bar bottom at 90,500; if it holds, we can expect a direct rise. If it breaks, a longer adjustment period will be needed.

Bitcoin

The 3-day line did not close well, dropping to around 92,232 and fluctuating. It has also reached a densely traded area on the daily pin bar. If it cannot close above 94,300 today, there is a possibility of further declines, and we will continue to see intense volatility as we search for a bottom.

The price line has broken below the MA60. If it cannot effectively stabilize above the MA60 in the next 2-3 days, it will continue to experience volatility and decline before rebounding. The Fibonacci retracement is again fluctuating around 0.382; if it breaks below, a bottom will form between 0.382 and 0.5.

Support: Pressure:

Ethereum

The daily chart has been fluctuating between 3,300 and 3,444 for 5 days. We have previously stated that if it cannot rise above 3,500 to 3,555, a second test is not ruled out.

The 4-hour descending triangle has broken downwards, presenting a buying opportunity. Previously, we entered a long position at 3,150 and will watch to see if the second test breaks below 3,100.

Support: Pressure:

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This article is time-sensitive and for reference only; it will be updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Official account: Trader Prince Fusu

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