Analysis of Bitcoin/Ethereum No. 12.4 - The Fluctuation Continues, How to Grasp the Market

The price of Bitcoin peaked around 96,500 in the morning before starting to pull back, dropping nearly 1,000 points before beginning to trade sideways. The upward momentum is clearly insufficient.

The daily fluctuations of Bitcoin are intense, with the high point already reaching 96,300 and having fallen below the EMA12 trend support at 95,400. At this moment, attention should be focused on whether the daily line can return to and hold above the EMA12. If this is achieved, the main force may launch a strong attack, and investors should not exit too early. In terms of technical indicators, the MACD is shrinking and moving downward, with the DIF and DEA expanding at a high level. The Bollinger Bands are contracting, with the K-line staying above the middle band at 94,900. The upper band at 100,400 is under pressure, while the lower band at 89,000 provides support. As long as the overall trend support remains solid, any pullback is mostly a false signal for shorting, and investors need to keep a close eye on key levels to make timely investment decisions.

From the current market trend, the price is fluctuating within a range, indicating a tug-of-war between the bulls and bears. Although the price briefly rose to around 96,000, it seems to be just a temporary rebound that has not changed the overall downward trend. The saying goes, 'what goes up must come down.' The afternoon outlook is pessimistic for a pullback, and aggressive traders may consider shorting at current prices.

Currently, from a structural perspective, Ethereum surged to around 3,713 in the morning before starting to pull back. It is now in a phase of sideways correction, confirming the resistance level is around 3,700, with clear weakening of upward momentum. Ethereum is currently around 3,680, and afternoon operations should still focus on short positions.

Afternoon Trading Suggestions for Wednesday (Written at 13:50)

BTC: Short near 96,500 with a target of 94,000

ETH: Short near 3,690 with a target of 3,630

Be sure of the trend and don’t hesitate; leave professional matters to professionals.

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