🍉Market Insights for December 23.🍉
$BTC Insights:
When Bitcoin drops, many people say: We are seeing a Wyckoff distribution, trading is declining. When Bitcoin rises, you talk about 120,000, you are always right, you are completely right.
93655 with volume breaks down and cannot recover, pursue short on the right side, and stop loss when it recovers. If it dips down and quickly comes back up, don't short.
Bitcoin with volume breaks through 95649, the hourly closing price is above 95649, pursue long on the right side, and stop loss when it recovers.
If it retests 93655 and has a false breakdown, add a light position long, with stop loss at the false breakdown low. If there is no action to recover from the false breakdown, do not go long.
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Bitcoin on the hourly level must break and hold above 95638 to see the target above 96338-97300. If it can't go above 95638, all rebounds are just to make the decline smoother.
Be cautious of a 2B false breakout at 96425, short one position, and must stop loss if it breaks 97000.
Conservative traders wait for 92649 to go long directly, stop loss if it breaks 92000.
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Bitcoin on the 4-hour level must not drop below 92265; if it breaks, it must go to 90159-88630, and whether it can come back is unknown.
Upper pressure: 95409-96407-97406
Lower support: 94131-93640-92272
Watch for a bearish engulfing pattern on the weekly level. If it goes into a weekly pullback, then it’s a waste of time.
To recover from this bearish candle on the weekly chart will take at least two weeks. The remaining time will be spent oscillating within this bearish candle on the weekly.
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$ETH Thoughts:
Ethereum breaks through 3336 with volume, pursue long on the right side, and stop loss when it recovers.
If it retests 3233 to confirm support is valid, add a light position long; stop loss if it breaks.
To see higher for Ethereum, it must break 3389 to look up towards 3418-3464.
Be cautious of a short at 3500, stop loss if it breaks 3535.
Left side order: 3157 to go long directly, stop loss if it breaks 3119.
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Ethereum on the 4-hour level is fine as long as it does not break 3211; if it breaks, look down towards 3171-3118.
Upper pressure: 3387-3417-3468
Lower support: 3289-3231-3169
Ethereum on the daily level must not go above 3400; otherwise, everything is off the table. Meeting adjourned.
