Tracking real-time hotspots in the cryptocurrency market and seizing the best trading opportunities, today is Monday, December 9, 2024, I am Wang Yibo! Good morning to all crypto friends ☀️ Hardcore fans check-in 👍 Like to make big money 🍗🍗🌹🌹
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Bitcoin has been hovering around $100,000 over the weekend, with trading volume shrinking. Ethereum is also consolidating around $4,000 with reduced volume. Currently, the standout performers in the market are UNI and AVAX, which are both in an upward channel. The volatility rankings show that the market trend is still maintaining a sector rotation state. Last week (December 2 to 6, 2024), the inflow of funds into U.S. spot cryptocurrency ETFs was as follows: $2.744 billion flowed into BTC and $844.9 million into ETH; these inflows mark the second-largest weekly inflow for the BTC ETF since its launch and the largest weekly inflow for the ETH ETF in history. Both BTC and ETH spot ETFs experienced a full week of inflows. This data also reflects the enthusiasm for Bitcoin and Ethereum. The biggest factor affecting the cryptocurrency market trend this week is the release of the U.S. CPI data on the evening of the 11th, which is crucial for whether the Federal Reserve will continue to cut interest rates in December. In fact, the ups and downs of a bull market also present good entry opportunities.
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After a weekend of rest, Bitcoin has once again risen above $100,000. If the weekly close remains at this position, the upward momentum will increase again. It has now reached the end of a small converging triangle, and this shrinking volatility corresponds to the previous extreme violent back-and-forth washout, giving the entire market a chance to breathe. The current market structure shows considerable stability, releasing positive signals of halting the decline and trending towards stability. The market is undergoing a strong correction through horizontal consolidation in the high region rather than a direct pullback, further confirming that the overall trend remains strong. The short-term resistance levels above are $101,800 and $103,500. If the demand in the evening U.S. session expands further, then we can go with the trend and continue to maintain a bullish outlook.
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Ethereum continues to consolidate at a high level near the $4,000 mark. On the daily level, the current pattern is quite robust, releasing positive signals to seek a halt to the decline and stabilize. The market's high-level consolidation is using sideways movement instead of a pullback for strong correction, indicating that the overall trend remains strong. On the four-hour level, although the price has attempted to rise multiple times, the resistance it faces is still significant. From a larger cycle perspective, while the bulls show signs of recovering momentum, the momentum is still insufficient, and a pullback under pressure to verify effective support is a reasonable expectation. Therefore, in the morning strategy, we should still focus on positioning at lower levels.
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In this market, ultimately, it comes down to ability. If your ability is insufficient, the market will eventually make you pay back one day. Therefore, when your wealth exceeds your ability, you need to control your drawdown, although this control may be in vain, because that kind of arrogance and hubris in profit will ultimately destroy a person's rationality. However, we do not need to worry about the situation where our wealth is lower than our ability in the capital market, because this kind of imbalance will eventually be corrected by time. If it has not been corrected, there is only one reason: your ability is insufficient. If you are still in a state of confusion, not understanding technology, unable to read the market, not knowing when to enter, unable to set stop losses, not knowing when to take profits, randomly increasing positions, getting stuck while trying to catch the bottom, unable to hold onto profits during market fluctuations, and missing out when the market moves, these are common problems among retail investors. But it’s okay, come to me, and I will guide you to think correctly about trading. A single profitable trade is worth a thousand words; rather than repeatedly losing, come find Yibo! Frequent operations are not as good as precise trades; let every trade be valuable. What you need to do is find Yibo, and what we need to do is prove that our words are not empty. 24-hour real-time guidance, as the market fluctuates quickly, due to the effectiveness of the review, for the subsequent market trends, the focus will be on real-time arrangements. Friends who need contract guidance can scan the QR code below the article to add my public account.
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