12.15 Afternoon Bitcoin/Ethereum Analysis Weekend Overall Tends to Gradually Rise in Range
This week's market mainly showed a V-shaped upward trend. At the beginning of the week, it fluctuated around the 100,000 mark, but did not continue to rise. A strong pullback occurred to a new low of 94,000, and then it stabilized at 94,000 with a continuous upward trend bringing the price back to the 100,000 mark, peaking at 102,900 on Sunday. This week’s fluctuations also showed a range of nearly 10,000 points, while Ethereum had nearly 400 points of volatility.
On Saturday, the daily closing continued to form a doji star, with the market consolidating at a high level. The upper resistance is at 103,000. The daily performance remains strong with upward momentum. Although the upper track faced some pressure in the short term, it was also due to the slowdown of the weekend market. The weekend market's attempt to break the high point also indicates the strength of the bulls. Currently, after a brief surge to 102,900 during the afternoon, Bitcoin did not continue to break higher, indicating that its momentum is still slightly lacking. Subsequently, in the afternoon, the price was corrected to above 101,500. If Bitcoin does not break below 101,000 in the afternoon and stabilizes to rise, then it will continue to break higher in the evening. Conversely, if it breaks down further, it will dip again. I believe it will first drop slightly before rising, as the market is there, and we just need to follow the trend and make timely adjustments.
Sunday Afternoon Operation Suggestions (Writing Time 16:00)
BTC: Buy around 101,000-101,500, target 103,000
ETH: Buy around 3,820-3,835, target 3,980
Be sure of the trend and don't hesitate, leave professional matters to professionals.
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