12.18 Bitcoin and Ethereum Trading Strategy Reference
This morning, Bitcoin experienced a rapid downward trend; however, for bullish investors, this is not a disadvantage. The price of Bitcoin has approached a maximum of 108,300, indicating that a breakthrough of the 110,000 mark is not far off. From the market analysis, it can be observed that after Bitcoin's price dipped to around 103,555 this morning, the bearish momentum did not continue, which can be precisely described as a washout operation by the main force, and bullish strength is accumulating.
Currently, from the market conditions analysis, after the daily candlestick formed a doji, there was a continued pullback during the daytime, but the key support level was not broken. From the four-hour chart, after Bitcoin made a new high yesterday, the price pulled back to stabilize near the middle band of the Bollinger Bands, and the strong characteristics remain evident. The upward trend is expected to continue, and in the short term, the middle band of the Bollinger Bands can be considered as support for formulating trading strategies. During the daytime operations, a short-term oscillation strategy can be implemented, as there is a high probability of a demand for upward movement.
Bullish on Bitcoin for the day, entry position at 103,600, stop loss at 102,800, target at 104,800.
Bullish on Ethereum for the day, entry position at 3,815, stop loss at 3,775, target at 3,865.
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