Navigating the Cryptocurrency Sea: 12.29 Bitcoin (BTC) Market Analysis Reference:
Bitcoin experienced a rebound in the early morning, with the price testing previous strong resistance areas, currently operating around the 90,000 level. Observing the daily chart, the daily candlesticks have recently formed a series of small bullish candles, indicating a weak rebound. However, the Bollinger Bands are overall in a contracting state, and the current price has strongly broken through the middle band resistance, standing above the EMA30. The MACD main line is still below the zero axis, with the histogram slightly increasing, and the KDJ indicator showing a bullish crossover and divergence, strengthening the short-term rebound trend. However, there is significant selling pressure near the upper Bollinger Band, and it is important to note that the current position is close to the 90,500 USD resistance level tested on December 22, where selling pressure risks still exist. Caution is advised regarding insufficient volume that may lead to a pullback after a rise.
From the short-term hourly chart, the 4-hour Bollinger Bands are in an opening posture, with the price strongly breaking through the upper band after two consecutive bullish candles, standing above all moving averages, which are in a bullish arrangement. The MACD is increasing in volume, with the fast and slow lines crossing above the zero axis, and the KDJ also diverging upwards. Bullish momentum continues to be released, and the short-term trend has clearly shifted from consolidation to a strong signal. Attention should be paid to the continuity of volume; a rise without volume can easily lead to a temporary pullback. If it can stabilize above the upper band, further upward space may open up. However, the daily Bollinger upper band has significant selling pressure, which is likely to suppress the short-term rebound, so blind chasing of long positions is not recommended.
Navigating the Cryptocurrency Sea: 12.29 Bitcoin Short-term Reference:
Long Position: Buy in the 87,500-88,500 range, with a stop loss at 86,500, targeting 89,500-90,500.
Short Position: Sell in the 91,000-92,000 range, with a stop loss at 93,000, targeting 89,500-88,500.
Navigating the Cryptocurrency Sea: 12.29 Ethereum Short-term Reference:
Long Position: Buy in the 2,900-2,950 range, with a stop loss at 2,850, targeting 3,000-3,050.
Short Position: Sell in the 3,050-3,100 range, with a stop loss at 3,200, targeting 3,000-2,950.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article may have delays in review and publication, and the strategies may lack timeliness. Do not operate blindly!】
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