Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: December 10, 14:40 Beijing time
Market Information
- Regulation: Senator Lummis plans to release a draft of the cryptocurrency market structure bill this weekend;
- Trump claims he created the greatest economy in American history;
- The Federal Reserve will announce its interest rate decision early Thursday morning, with a 25 basis point rate cut probability of 87.6%;
- JPMorgan: Bitcoin's pullback is significant but not a bear market; the bull market cycle is not over yet;
- Trump has initiated the final interview for the Federal Reserve Chair this week, with Hassett as a popular candidate;
Market Review
The previous rise was constrained by 94 and did not break through to the 98 position, followed by a decline, with the low point at 87670. Last night, it tested the 94 pressure again, and as of now, the highest point of the rise is at 94569. After Ethereum broke through the 3170 pressure, it followed Bitcoin in a wave of decline, with the low point at 2903. Last night, it made a rise, with the high point around 3398, once again breaking through the short-term pressure of 3170;
Market Analysis
Bitcoin
From a daily perspective, Bitcoin has not broken the bullish trend and is still operating within an upward channel, with both lows and highs continuously rising. The short-term pressure at 94000 requires more time to break through. Long-term positions can continue to be held. Currently, Bitcoin is testing the 94000 pressure again but has not stabilized. A certain pullback is needed for a rise, with the pullback range expected to be between 91400-90500. Short-term trading can be arranged around this range for long positions, targeting 94000. If broken, positions can continue to be held. In a bullish trend, any pullback is an opportunity to position oneself; manage your entry accordingly. For short-term trading, control risks and manage your own profits and losses;
Ethereum
From a daily perspective, Ethereum's rise is stronger than Bitcoin's. Ethereum broke through the previous pressure at 3170 with a large bullish candle, which is considered an effective breakout. The previous attempt did not stabilize, and the market subsequently experienced a pullback. Overall, Ethereum is also in a strong bullish phase. For trading, long-term positions can continue to be held, while short-term traders can wait for a pullback to position themselves for long. Recommended entry point is around 3170, with a stop loss at 3070 and a target near 3510. Manage your entry opportunities accordingly. For short-term trading, control risks and manage your own profits and losses;
In summary:
Both Bitcoin and Ethereum are in a strong bullish phase; pullbacks are opportunities to buy;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
In the cryptocurrency world, some people's demands can only be met by scammers. Everything cheap must be taken by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every transaction goes as planned. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I focus more on psychological development. Most people do not fail against themselves but against the self that confines them in a room. Even if life or trading is unsatisfactory, believe that there is light in the world and love among people. Even a small piece of happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, people in the cryptocurrency world.
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