12.29 Afternoon Thoughts

From the perspective of the four-hour chart structure, the decline has also come to a halt, but in terms of the current trend, it is still relatively effective, with support continuously and slowly moving upward. The short-selling volume is also contracting, and the price of the coin is returning to a correction phase. This process requires a certain amount of time, with around 93400 serving as a short-term support to facilitate local consolidation upwards.

The weekly K-line chart presents a magnificent scene of four consecutive bullish candles, with the large bullish candlestick piercing the sky like the light of dawn, showcasing the vigorous and unstoppable force of the bulls. On the daily level, the coin value follows closely, accompanied by the strong pull of the large bullish candlestick. Although there are occasional bearish candles attempting to interrupt this rising melody, their pullback force appears quite weak. For most of the time, the market is in a sideways consolidation posture, cleverly diffusing the pressure of decline. Therefore, the thought is to focus primarily on buying during pullbacks, with short positions at high levels as a supplement.

Bitcoin: Buy during pullbacks around 94300-94600, with a target of around 97500.

Ethereum: Buy during pullbacks around 3350-3370, with a target of around 3500.

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