12.17 Afternoon Bitcoin/Ethereum Analysis: Is the Bullish Dominance Still Strong in the Afternoon?
Early yesterday morning, Bitcoin showed a strong upward trend after breaking through the resistance level, successfully reaching a new high, with the overall trend structure continuing to rise. Unfortunately, after breaking through the resistance level, it began to pull back, reaching around 105424, followed by a trend of upward adjustment but still maintaining an overall upward trajectory.
From a technical indicator perspective, the four-hour opening is extending upwards, indicating the stability of the bullish dominance. However, the KDJ indicator failed to continue expanding after the three lines crossed, suggesting that short-term bullish momentum has weakened, and the upward trend may gradually slow down. Nevertheless, the overall trend remains bullish, with a potential breakout above the 110000 mark.
Currently, the trend is retesting the upper space, and the position of 105500 can be viewed as an important resistance level in the short term. Even if the market pulls back below the resistance level, it will create a new resistance level. Therefore, in the short term, a slight pullback should not be seen as a risk but rather as a good opportunity to go long. Currently, there is no indication of a top in the short term, so we will continue to maintain a bullish stance.
Specific points for reference:
Tuesday afternoon trading suggestions (written at 15:40)
BTC: Buy near 106700-106500, target 107400-107900
ETH: Buy near 4010-3980, target 4040-4060
The above is a personal intraday market analysis.
Follow me for daily updates on market analysis and live trading results! #BTC持续刷新高点 #BTC再创新高 #比特币冲向11万？