December 3rd Bitcoin Ethereum Analysis
Bitcoin experienced a brief adjustment yesterday before rising again, but the retracement was larger than expected.
Looking at the 4-hour chart, it appears to be quite stable, and the candlestick patterns are also good.
Today's key support range is between 94,500 and 95,000. If it can consolidate well within this range, there is still considerable potential for upward movement in the future.
However, there is strong resistance in the 97,000 to 98,000 range, and it may take particularly good news to break through.
This Friday's non-farm payroll data and Microsoft's entry into the market will be important influencing factors; we need to keep a close eye on them. As for Ethereum, after the retracement alongside Bitcoin, its trend remains quite stable, and there is a high possibility of a rebound today.
The upper resistance level is around 3,720 to 3,770, while the lower support is in the 3,570 to 3,620 range.
Bitcoin has returned to a relatively normal and healthy state on the 1-hour, 4-hour, and daily charts, and the overall upward trend remains unchanged. Today's main activity is likely to be a range-bound consolidation.
Ethereum's performance across various timeframes is also good, and the rebound may be just around the corner.
