Cryptocurrency News

December 5th Hot Topics:

1. A whale that has been dormant for 5 years deposited 39,260 ETH into Kraken 18 minutes ago.
2. Tether's BTC holdings currently have a floating profit of $1.1 billion.
3. The US Internal Revenue Service: About half of all investigations into digital assets in the past year involved tax issues.
4. BlackRock's Chief Investment Officer: The Fed's interest rate hike cycle has ended.
5. Binance CEO: Binance has been profitable almost from day one and continues to remain profitable.

Trading Insights

1. Oscillation trading method: Most of the time, the market is in a oscillating pattern. Buying high and selling low within the range is the most basic method to stabilize profits. The indicators used are BOLL and box theory. The premise of success is to identify resistance and support based on various technical indicators and patterns. The principle of oscillation trading is to trade short-term and avoid greed.
2. Breakthrough trading method: After a long period of consolidation, the market will eventually choose a direction. Chasing after the market's direction change is the fastest way to stabilize profits. It requires good judgment and a stable mindset, avoiding greed and fear.
3. Trend trading method: After the market breaks out of consolidation, it will choose a direction. Riding the trend during each pullback or rebound is the best guarantee for stable profits. The technical indicators used are candlesticks, moving averages, BOLL, and trend lines. Proficiency in these indicators is required.
4. Resistance and support trading method: When the market encounters significant resistance or support, entering the market at these points is a common and stable method for profit. Accurate judgment of resistance and support using trend lines, moving averages, and Bollinger Bands is required.
5. Pullback and rebound trading method: After a significant rise or fall in the market, there will be a brief pullback or rebound. Seizing these opportunities is the easiest and simplest way to stabilize profits. The main indicator used is candlestick patterns, requiring a good sense of the market to accurately identify high and low points.
6. Timeframe trading method: Generally, the market is less volatile in the morning and afternoon, suitable for mild-mannered investors. The downside is that it takes longer to profit and requires patience. The evening and early morning markets are more volatile, providing quick profit opportunities but also carrying a higher risk of error, requiring a higher level of technical skill and judgment.

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BTC

Analysis

Bitcoin continued its bullish trend yesterday, reaching a high of 42110 before falling back, finding support at 41130. The market rebounded to a new high of 42400, currently trading near 41760. On the 4-hour chart, the market trended along the MA7 moving average, with minor pullbacks but never breaking below the MA7 line. The bullish trend is strong, with the current candle forming a doji star. Although it broke the previous high, the volume did not follow, forming a short-term divergence structure. A pullback is expected. The daily chart shows resistance in the current area, with the MACD showing a bullish trend but with decreasing volume. The short-term trend is stagnant, but the bullish trend remains strong. It is suggested to focus on buying on dips and selling on highs, with resistance at 42500-43200 and support at 41200-40800.

ETH

Analysis

Ethereum's trend yesterday was upward, reaching a high of 2273 before falling back to support at 2202. Congratulations to those who followed the long position strategy from yesterday, gaining 50 points in profit. Currently, the price is trading near 2230. On the 4-hour chart, the market's second rebound did not break the previous high and is now facing resistance, with the candle breaking below the MA7 moving average. The MACD is showing a decreasing bullish trend with a potential bearish crossover, indicating a possible pullback in the short term. The probability of breaking the new high in the intraday is low. Aggressive traders can consider shorting first. As long as it does not break below 2200, it is still possible to go long. The daily chart still shows a bullish trend, but it is not advisable to chase long positions at the current high levels. Focus on buying on dips, with resistance at 2250-2280 and support at 2200-2150.

Disclaimer: The above content is for reference only and does not constitute specific trading advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article may have a certain lag. If there are any questions, feel free to consult.

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