Zhou Yanling: The 1.7 Pullback is for a Better Rise - Latest Analysis and Trading Strategy for Bitcoin BTC and Ethereum ETH
The pullback is for a better rise later, so there’s no need to worry about last night’s pullback. Don’t be overly reactive to every little change in the market. What does this minor adjustment mean when the real bull market arrives? If you easily change your direction and panic at the slightest market movement, it only shows that you don’t really understand how to judge trends. Yanling reiterates that as we approach the New Year, my main direction is to remain bullish. I will only take short positions during minor pullbacks as a transition. These considerations are based on the technical analysis of the larger cycle. Moreover, regarding the news front, whether it’s the geopolitical situation or the impact of the Federal Reserve's interest rate cuts, they are generally favorable for cryptocurrency prices. Therefore, from both technical and news perspectives, the outlook remains bullish, so bulls don’t need to panic. Just continue to hold onto your previous low positions, focus on long-term strategies, and stay calm!
As usual, let’s continue to analyze the technical indicators in detail. The daily chart for Bitcoin shows that after a recent high-level consolidation, there has been a short-term pullback, forming a long bearish candle, indicating heavy selling pressure above. On the hourly chart, the price has gradually fallen from above 93,000 and is currently in a consolidation phase after a short-term rebound. The MACD histogram on the hourly chart remains negative, with both DIF and DEA diverging downwards, indicating a clear short-term bearish trend; the daily MACD has also started to weaken, possibly entering an adjustment cycle. The hourly RSI is around 46, not in the oversold zone, but overall is weak; the daily RSI has dropped below 50, indicating weakening momentum. The hourly EMA7, EMA30, and EMA120 are in a bearish arrangement, with the current price constrained by the EMA7 resistance; the daily EMA7 has turned downwards, with a possibility of further testing the EMA30 support. For intraday operations, 91,000 serves as support; as long as it doesn’t break below this level, we can continue to look upwards.
Zhou Yanling's 1.7 Bitcoin Trading Strategy:
Buy at 91,600-92,400, stop loss below 90,800, target 93,600-94,400; if broken, look for 95,000 near 97,300.
Short at 95,000-94,200, stop loss above 95,800, target 93,000-92,200.
Zhou Yanling's 1.7 Ethereum Trading Strategy:
Buy at 3,190-3,230, stop loss below 3,150, target 3,340-3,380.
Short at 3,400-3,360, stop loss above 3,440, target 3,300-3,250.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in cryptocurrency market investment research for over ten years, currently focusing on analysis and guidance for BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investment friends for his easy-going and responsible character along with sharp and decisive operations.
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