Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Time of writing: 01:04, December 29th, Beijing time
Market Information
- Cathie Wood: The possibility of SEC approving a spot Bitcoin ETF has increased;
- Cathie Wood: There is an "uncertain moment" before the approval of a Bitcoin ETF;
- CryptoQuant: The approval of a spot Bitcoin ETF may become a "sell the news" event;
- Grayscale analyst: The rise of Ethereum on Wednesday indicates that the market has finally shifted to ETH-centered trading;
- US Congressman Warren: 2024 will be an excellent time to dismiss the SEC chairman;
Market Review
Bitcoin rebounded as expected to near the 43850 pressure last night, but did not break through, and closed with a pin bar. The highest point of Bitcoin was at 43830, and it was suggested last night to short near 43850. The target is 42470-42100. The evening's low point was at 42305, which has reached the target range. Short positions can be closed. As for Ethereum, the rebound point was expected to be near 2435. The trend of Ethereum was somewhat strong yesterday, with the highest point at 2451, followed by a long upper shadow to below 2435. Short positions currently have tens of points in profit. Although the decline was not as sharp as Bitcoin's and did not reach the target range of 2275-2235, there is still short-term profit. Congratulations to those who followed this short-term pullback and made a small profit. Pay attention to short-term support for evening layout.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin's rebound last night reached the expected point near 43850. The upper pressure zone was effective, and a long upper shadow was formed near the pressure in the short term, followed by a subsequent decline. This decline reached the predicted range of 42470-42100. When it reaches this range, short positions can be closed. There is no rush to enter long positions in the evening. Bitcoin has strong support near 42100. Pay attention to the low point at 41619. If it does not fall below this level, when the market sees a lower shadow near 42100, long positions can be entered. The short-term rebound target range is 43150-43450. After reaching this range, reduce positions and watch for a breakthrough of the high point at 43830. If successful, Bitcoin will also break through the short-term pressure range and reach the next pressure near 44680. Take the opportunity to enter the market at your discretion. For short-term trading, manage risks and take care of profits and losses.
ETH:
Looking at the 4-hour chart, Ethereum's trend in the day was relatively strong and did not experience a significant decline. The predicted range of 2275-2235 is still far off. For those holding short positions in Ethereum, take profit or reduce positions with a trailing stop loss. If Bitcoin falls to effective support near 42100 and rebounds, 2451 for Ethereum will not hold, and it will refresh its high point. Pay attention to the range of 2315-2285 in the evening. If the market touches near 2315 and Bitcoin does not fall below 41619, Ethereum will start to rebound. After breaking through the 2451 position, it will reach near 2555, which is also a weekly pressure point. Take the opportunity to enter the market at your discretion in the evening. For short-term trading, manage risks and take care of profits and losses.
In summary:
After the expected decline of Bitcoin and Ethereum, pay attention to the support situation in the evening for layout.
The article is time-sensitive, be aware of the risks, the above is only personal advice, for reference only!
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