Liang Qiu: The underlying logic behind the strong rise of 12.4 Bitcoin/Ethereum

CN
1 hour ago

Follow for more, earn millions. Hello everyone, I am analyst Liang Qiu. Here I share my views, hoping that every friend who follows can achieve good returns!

You can follow the public account "I am Liang Qiu a," focusing on mainstream coin guidance and layout. Bitcoin and Ethereum have shown a strong upward trend in recent days, technically breaking through key resistance levels, supported by multiple positive news factors. However, they also face short-term correction pressure. Below is a specific market analysis:

Bitcoin is currently around $93,500, with a morning high of $94,127, and a 24-hour increase of 3.00%. It has strongly rebounded from a low of around $84,000 on December 1, recovering a significant amount of lost ground in just a few days.

From a technical perspective, the daily chart has entered the main rebound phase, breaking through the strong resistance zone of $93,000 to $94,000 with increased volume. The RSI indicator has risen from the oversold area into the strong zone. The four-hour chart has formed seven consecutive bullish candles, challenging the $94,200 resistance level, but a TD nine-turn signal has appeared, indicating a short-term technical correction is needed. Subsequent resistance levels are seen at $96,000 and $98,000, with support at $92,000 and around $90,500 to $91,000.

Positive support: The daily MACD red bars continue to lengthen, and the significant price increase is accompanied by a notable increase in trading volume, indicating a clear signal of new capital entering the market. Factors such as the Pionex Group opening cryptocurrency ETF trading and the rising expectations of the Federal Reserve cutting interest rates also provide financial support.

Ethereum's performance is even stronger than Bitcoin's, currently around $3,190, with a daily increase of 6.82%. It has successfully broken through the key resistance zone of $3,100 to $3,200, previously forming a solid multiple bottom structure in the $2,720 to $2,850 range.

From a technical perspective, the daily chart has exited the downward channel since last month, establishing a new upward trend. The MACD has continuously increased in volume, and the KDJ shows a golden cross diffusion trend. However, there are also divergences in the technical indicators, with an ascending triangle pattern suggesting an upward trend and a bearish flag pattern indicating risk. Subsequent resistance levels to watch are $3,350 to $3,400 and $3,500, with support at $3,100 to $3,050 and $2,950 to $3,000.

Positive support: On-chain data shows a new address growth of over 13%, and institutions like BlackRock continue to buy the dip. The upcoming Fusaka upgrade and the flourishing Layer 2 ecosystem also provide support for its long-term value.

However, both need to be cautious of the selling pressure from short-term profit-taking, and after breaking through, there may be fluctuations to confirm the validity of the breakout. Investment risks are high, so careful decision-making is required.

Currently, the market outlook is relatively good. I recommend trading altcoins like ORDI, LPT, SOL, and UNI in a swing trading manner, with specific operations guided in real-time. For more strategies, you can follow the public account: "I am Liang Qiu a."

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