The market has been fluctuating recently, frequently drawing in and out, so everyone must be cautious not to chase highs and sell lows! The Christmas holiday and New Year holiday have made the market dull, and there is no need to be too anxious. It is said that the wider the horizontal movement, the longer the vertical movement will be. The market is not stagnant; it is just that the time has not yet come. Be patient and wait for the flowers to bloom!
Bitcoin's weekly candlestick closed with a small bearish line with equal shadows. The Bollinger Bands are opening downwards, and there are signs of a decrease in bearish momentum in the MACD. The KDJ lines are converging, and the RSI has flattened out after being oversold at the bottom. This is not enough to indicate a trend reversal; the bearish structure has not been broken. On the daily chart, the upper band is moving downwards, and the price is getting closer to the upper band resistance, while the lower band is opening upwards. The triangular convergence pattern is making the range smaller, and a breakout is imminent. There is clear resistance above that has not been broken, while the small bottom on the downside is slowly rising. Therefore, in the short term, there is a divergence between bulls and bears. Those who are bullish may feel that since the market cannot go down and the pullback is getting weaker, it should make a big upward move. On the other hand, those who are bearish may believe that prolonged sideways movement will lead to a drop, and the inability to break the previous high resistance means that a downward crash is just a matter of time. Until the market breaks out, no one can convince anyone else. What needs to be done is to remain rational, stay clear-headed, manage positions, and validate one's own views!
On the short-term 4-hour level, the price is currently rebounding. The upper band is opening upwards. Do not chase highs; for now, rely on the upper resistance and treat it as a short position. Pay attention to the resistance at 89500 and 90500 above, and participate in short positions around these levels. For support below, pay attention to 88000, 87000, and 86000. The short position defense does not need to be too large. If the market is going to make a move, simply holding onto positions is not a solution. Once it stands above the 90000 mark, the next strong resistance will be around the previous high of 94500. Only by stabilizing here can it test the 100000 mark. Do not shout "the bull is here" and chase highs as soon as it approaches 90000, looking for 100000 or 150000. The recent market has been fluctuating, pulling up and then crashing, and then making deep V-shaped recoveries. Everyone should avoid chasing highs and selling lows!
For Ethereum, pay attention to the resistance at 3025 and 3075 above, and participate in short positions around these levels. For support below, pay attention to 2980, 2930, and 2880.
Buddha said, no matter who you meet, they are the person you are meant to meet in your life. Perhaps we are all destined to face this calamity, but no matter what has happened in the past, it is already gone. Whether in life or in investment, who hasn't faced some setbacks along the way? Sun Wukong waited for Tang Seng for five hundred years, enduring eighty-one trials, and finally achieved the right result. I firmly believe that every word I carefully write will meet my destined person, and then we will join hands on the path of investment to achieve our rightful results. Because of not meeting me, resulting in losses, that is a calamity; but if you see my words and still do not come to find me, then that is your fate!
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