Waves in the Cryptocurrency Sea: 12.31 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis and News Interpretation

Waves in the Cryptocurrency Sea: 12.31 Bitcoin (BTC) Market Analysis Reference:

Yesterday, Bitcoin experienced a technical recovery with fluctuations upward, peaking at around 89300 before encountering resistance and retreating. As of now, the price is fluctuating around 88500, maintaining a narrow trading range throughout the day. Observing the daily chart, a double top structure has recently formed, and the consolidation still maintains a bearish trend framework. The price continues to be under pressure below the EMA30 moving average, and the Bollinger Bands show a narrowing pattern that is slowly trending downward. Currently, the price is operating between the middle and upper bands of the Bollinger Bands, with the oscillation range further compressing. The lower band (85624.7) provides strong support. Although the J value in the KDJ indicator shows signs of turning upward, all three lines remain in the weak zone below 50, and no effective golden cross has formed yet. The short-term rebound is merely a technical correction and is unlikely to reverse the mid-term bearish pattern. The selling pressure at the upper resistance level will continue to constrain the height of the rebound.

Extending from the short-term hourly chart to the 4-hour level, the upper and lower bands of the Bollinger Bands show a slight opening pattern, with the price oscillating around the middle band. In the short term, support is gained from the middle band and the intertwined areas of EMA7, EMA15, EMA20, and EMA30 moving averages. In terms of technical indicators, the KDJ indicator shows the three lines diverging upward, with K at 55.63, D at 47.78, and J at 71.35. The K and J values have broken above the 50 threshold, enhancing short-term bullish signals. The MACD indicator is also strengthening, with the DIF crossing above the DEA to form a golden cross, and the histogram shifting from negative to positive, indicating a slight release of bullish momentum. However, it is important to note that the price has repeatedly rebounded to the upper edge of the range without effectively stabilizing, indicating weak continuation of bullish momentum. The significant selling pressure above clearly restricts upward movement, making it difficult to achieve effective breakthroughs in the short term, likely continuing the range-bound oscillation. The operational strategy for the day prioritizes shorting on rebounds.

Waves in the Cryptocurrency Sea: 12.31 Bitcoin Short-term Reference:

Long Position: Buy in the 85500-86500 range, with a stop loss at 84500, targeting 87500-88500.

Short Position: Sell in the 89000-90000 range, with a stop loss at 91000, targeting 87500-86500.

Waves in the Cryptocurrency Sea: 12.31 Ethereum Short-term Reference:

Long Position: Buy in the 2875-2905 range, with a stop loss at 2800, targeting 2950-3000.

Short Position: Sell in the 3020-3050 range, with a stop loss at 3100, targeting 2950-2900.

【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!】

This content is originally shared by Waves in the Cryptocurrency Sea and represents personal opinions. The article may have delays in sending and is for reference only; do not operate blindly! If you want to receive more daily real-time signals, follow my public account! Here, you can engage in online technical learning and understand knowledge related to exiting positions. I have years of research experience in the market, focusing on the major trends in the cryptocurrency space. I am mainly responsible for analyzing and guiding investment operations for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. Welcome to study and research together.

I hope everyone on their investment journey can adhere to their principles, regardless of how the market changes. Maintain rationality and calmness. Deeply understand the characteristics, risks, and return mechanisms of investment products, and do not let short-term market fluctuations sway your emotions. Be patient, avoid excessive greed and fear, and understand that wealth accumulation is a gradual process. Finally, I wish all my followers the ability to see clearly on their investment journey, seize opportunities, and make every decision just right, sailing through the ocean of investments and reaping wealth and growth!!!

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