12.11 Bitcoin and Ethereum: False Breakout or True Pullback? Focus on Key Support Levels
Yesterday, Bitcoin and Ethereum both faced resistance after a surge, with short-term trends shifting from strong to weak consolidation. The two major cryptocurrencies are currently testing key support areas repeatedly. Will they continue to pull back deeply, or will they stabilize at support levels and rebound? The core issue lies in the battle between bulls and bears at this critical juncture.
Below is today's market analysis and midday strategy (writing time: 13:00).
【BTC Bitcoin Market Analysis】
● Daily Structure: Two Failed Highs, Clear Signs of False Breakout
The daily chart has seen two failed attempts to rise to around 94500;
The price has fallen back below the daily moving average system;
This indicates heavy selling pressure above and insufficient rebound strength.
● 4-Hour Structure: Key Support at MA120 (89500)
Currently, Bitcoin has pulled back to around 4H MA120 (approximately 89500);
This position is an important dividing line for bulls and bears in this round of upward movement;
If it fails to hold, short-term downward space may reopen, continuing to test lower support.
● 1-Hour Structure: 90500 as the Short-Term Dividing Line
The 1H level has already fallen below MA256 (daily moving average) at 90500;
This area is the core position for short-term market strength;
It is expected to oscillate around this position repeatedly.
→ Overall Judgment: Short-term bias is weak, focus on the gains and losses of the 89500 support.
【ETH Ethereum Market Analysis】
● Daily Structure: Pullback to Key Support After Hitting MA60
The daily chart surged to near MA60 before facing resistance and pulling back;
It is currently testing daily MA256 (approximately 3200) again;
3200 is a short-term dividing line for Ethereum at the daily level, very critical.
● 4-Hour Structure: Below MA256 (3220)
The 4H chart has fallen below MA256 (3220);
If it continues to operate below this level, the height of any rebound will be limited.
● 1-Hour Structure: Focus on 3080 Support
If the 3200 support fails, pay close attention to 1H MA256 (3080);
If this area can stabilize, Ethereum may still maintain a rebound structure.
→ Currently, Ethereum is clearly stronger than Bitcoin, but the key support must not be lost.
【12.11 Midday Trading Strategy (Written at 13:00)】
The following strategies are for short-term rhythm and are for reference only:
BTC (Bitcoin)
Long Position Setup
Long near 89500
Add to long at 88000
Target: 91000 / 92000
Short Position Setup
Short in the 91000 / 92000 area
Pullback target: 1000–2000 points
ETH (Ethereum)
Long Position Setup
Long at 3155
Add to long on pullback at 3080
Target: 3200 / 3250
Short Position Setup
Short in the 3260 / 3350 area
Pullback target: 60–100 points
Risk Warning
Market rhythms change quickly, and the above strategies have a time sensitivity;
Always set take profit and stop loss when entering the market, and manage positions reasonably;
Do not chase highs or cling to battles.
Wishing you successful trading!
【The above analysis and strategies are for reference only. Risks are to be borne by yourself. The article review and publication may have delays, and strategies may not be timely. Specific operations should follow the real-time strategies of crypto experts.】
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