🐳Market Outlook on December 7th.🐳
$BTC 's View:
Why did Bitcoin only rise to 118882.8 and stop? It was just 1100 dollars away from 120,000 but halted.
Because the bullish liquidity above has basically been cleared out, there is no fuel left for the bears to accumulate over a few days. We can't just make the bears work without giving them something to eat; let them have a little first, and when the time is right, we can continue the fight.
Bitcoin's volume broke through 117793, closing above the hourly level of 117793, so we go long on the right side, with a stop loss below the breakout.
117435 broke with volume, and if it cannot reclaim, we go short on the right side, with a stop loss when it reclaims. Pay attention to changes in volume and manage your stop losses well.
At 115649, if there is a false breakdown, add one more position. Use the low of the false breakdown for your stop loss; if it can't reclaim, don't add more.
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Bitcoin has established a support at the hourly level of 118155, looking upwards towards 118882-120307. If it can't reach above 118155, it is useless.
For those looking to short Bitcoin at a high level, be cautious; at 119516, there is a 2B false breakout, short one position, and if it stabilizes above 120307, set a stop loss.
Left side orders: Long at 113777, stop loss below 113029.
At the hourly level, Bitcoin has broken down the lower boundary of a bearish flag pattern; I won't look for long positions until it reclaims the flag pattern. Currently, the lower boundary of the flag pattern serves as resistance for Bitcoin; it can only continue to rise if it returns to operate within the flag pattern.
If it can't return to the flag pattern, the chances of a correction are greater than a bullish outlook. The trend line indicated by the white arrow in the chart hasn’t been broken; Bitcoin won’t experience a deep correction until it does. Draw it yourself.
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Upper pressure: 118187-118882-119516
Lower support: 117063-115666-115189
At the 4-hour level, 117033 broken down looks towards 116435-115199; another boring Saturday has begun.
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$ETH 's Idea:
For Ethereum, if it breaks 2971 with volume, go long on the right side, with a stop loss when it reclaims.
If it breaks down 2940 with volume, go short on the right side, manage your stop loss well.
When it pulls back to 2896, confirm the support is valid and add one more position; stop loss below 2857.
At the hourly level for Ethereum, if it breaks 2979 and stabilizes, look upwards towards 3009-3040; if 3009 doesn’t stabilize, Ethereum cannot continue to rise.
For Ethereum above, pay attention to 3040 to short one position, with a stop loss above 3074.
Left side orders: Long at 2838, stop loss below 2796.
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Upper pressure: 2977-3009-3040
Lower support: 2930-2896-2857
At the 4-hour level, if 2932 is broken down, look towards the target positions of 2877-2832; if it doesn’t break 2832, it’s still within a controllable range. Meeting adjourned.