Bitcoin price started a significant increase above $41,500. BTC was able to clear the $42,000 resistance area to move into a positive zone. The bulls were able to push the price above the $43,000 area.
However, the price seems to be struggling near $43,350. A high was formed near $43,421 and the price is currently consolidating gains. There was a sharp downside correction below the $42,500 level. The price even surged below the 50% Fib retracement level of the upward move from the $40,606 swing low to $43,421 high. The bulls are active near the $41,500 area. They have protected the 61.8% Fib retracement level of the upward move from the $40,606 swing low to $43,421 high.
Bitcoin is currently trading above $42,200 and the 100 hourly simple moving average. Moreover, there is a key bullish trend line forming with support near $42,400 on the hourly chart of the Bitcoin price. On the upside, an immediate resistance is near $43,300.
Today's Bitcoin BTC market analysis is as follows. The market price of Bitcoin BTC is around 42700. As shown in the figure, today's Bitcoin market analysis, Bitcoin BTC fell to 40222 in the early morning of December 12, and finally held the 40000 mark. After two days of adjustment, it returned to around 43000. At 8 o'clock in the evening on December 14, we saw that BTC ushered in another wave of rapid sell-offs, falling from around 43200 to 41400, and quickly rebounded to around 42600 for sideways trading. On December 11 and December 12, there were two spikes. The short-term and medium-term trends were all broken in a very short time. Although it rebounded quickly to around 43000, the short-term indicators had not been repaired in a hurry, and another wave of decline adjustments came. In the short-term long and short game, airdrop sentiment is still the dominant force in the market.
There is no clear direction for the current fluctuation trajectory of BTC. It will take time for the price to return to a reasonable range, so that the market risk sentiment can be released and stabilized. At present, there is still room for BTC price to fall back, and the airdrop sentiment still exists. According to the attached figure, the red energy column is in the moving average currency price MACD and BOLL continue to fluctuate and continue to fall. Although the medium-term trend is still in the upward channel. However, in the short term, various indicators are getting worse and weaker. So at present, Bitcoin BTC still has room to fall.
Overall, the short-term price of Bitcoin is still mainly short around 42700, and it is expected that the price will fall back to the reasonable range of 40000-40800. When the price falls back to 40000, you can consider buying more. Personal advice, for reference only. Operational suggestion strategy: enter the market around BTC42700 and continue to buy short, and defend at 43000 and leave the market near the target of 40800. You can buy more when BTC reaches 40500, and defend at 40000, and leave the market near BTC42500.
The 4-hour chart has been in a horizontal consolidation near the upper rail, and is in a correction in the upward trend. After the pin wash last night, the market rebounded rapidly, and the short-selling volume has ended. After the recovery, it has not broken through the upper rail and is still accumulating strength. Slow adjustment and fast rise are strong. Today, Bitcoin has limited relative space, and it is expected to accumulate momentum after sideways trading. The daily line closed with a small positive but with a lower shadow, accompanied by a rebound in the short term, with a taste of a seesaw shock. We still keep the retracement and go long.
STORJ: The storage sector continues to explore upwards. Now that it has returned to the previous highest point, this is the bottom and is mostly dominated by oscillations. It has made a false breakthrough upwards, and the future growth space is limited. Just watch more and do less.
SOL: sol At this position, we still need to make a range adjustment and hit a wave of relays to accumulate a certain amount of energy before we can continue to break through 100. Otherwise, the plate is getting bigger and bigger, and it will be difficult to pull it up.
