🐳 Market Outlook – December 7th 🐳
$BTC View:
Why did Bitcoin stop at 118,882.8, just $1,100 away from 120,000?
🔹 Reason: Bullish liquidity above has been cleared. Bears need fuel to accumulate positions. Market makers let bears eat a little before the next push.
🔹 Key Levels & Strategy:
✅ Breakout Long:
• Above 117,793 (hourly breakout) → Long, SL below breakout
✅ Breakdown Short:
• If 117,435 breaks with volume → Short, SL if reclaimed
✅ False Breakdown Buy:
• At 115,649, if false breakdown → Add long, SL below false break low
🔹 Support & Resistance:
• Support: 118,155 (key hourly support); failure here is useless for bulls
• Upside Targets: 118,882 → 120,307
• High Short Zone: 119,516 (2B false breakout), short with SL above 120,307
🔹 Left Side Orders:
• Long 113,777, SL below 113,029
🔹 Flag Pattern Note:
BTC broke below the bearish flag lower boundary. Until it reclaims the flag, long positions remain risky. As long as the white arrow trendline holds, no deep correction expected. Break it for stronger downside.
🔻 Upper Resistance: 118,187 – 118,882 – 119,516
🔻 Lower Support: 117,063 – 115,666 – 115,189
📊 4H View:
• Break 117,033 → Targets 116,435 – 115,199
Another boring Saturday begins.
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$ETH Idea:
✅ Breakout Long:
• Above 2971 with volume, SL if reclaimed
✅ Breakdown Short:
• Below 2940 with volume, SL if reclaimed
✅ Pullback Buy:
• At 2896, confirm support → Add long, SL below 2857
🔹 Hourly Targets:
• Break 2979 & hold → Look towards 3009 – 3040
• If 3009 fails to hold, uptrend stalls
🔻 Short Setup:
• At 3040, short with SL above 3074
🔹 Left Side Orders:
• Long 2838, SL below 2796
🔻 Upper Resistance: 2977 – 3009 – 3040
🔻 Lower Support: 2930 – 2896 – 2857
📊 4H View:
• Break 2932 → Targets 2877 – 2832
If 2832 holds, ETH remains within range.
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