12.24 Wednesday Night BTC/ETH Silk露 Sharing
Today is Christmas Eve. Wishing everyone a Merry Christmas Eve! Currently, the market is at a critical stage, with Bitcoin stuck within a range, hesitant to move up or down. From the trend perspective, the market may become clearer after Christmas, so if you're not in a hurry to trade, taking a break is also good; if you want to participate, you can try short-term trades with a small position.
First, analyze from the daily chart level: strong resistance above at 94,000, and key support below at 85,000. Recently, a "Evening Star" bearish signal appeared on the daily chart. If the next candle closes lower, the trend may weaken further. At the same time, the daily chart is forming a potential top arc structure, with the neckline around 84,000. Regarding indicators, MACD remains in a golden cross, but the upward momentum has significantly weakened, and RSI has already formed a death cross, indicating that the daily trend is gradually weakening.
Next, observe from the four-hour chart: the price is currently at the intersection of major and minor trend lines, a sensitive position. To strengthen in the short term, it needs to break through 89,300 first, then challenge 91,000; if it falls below 84,500, it means the upward structure since the end of last year may be broken, and the downtrend could be confirmed.
Overall, the market has entered a critical stage, with signs of weakening on the daily chart. It is recommended to stay on the sidelines and focus on the support strength in the 84,500 to 85,200 range. If it holds, the market can still maintain oscillation; if it breaks below, the trend may turn downward.
Bitcoin trades in the 87,700-88,200 range, targeting around 85,400
Altcoin 2990-3010 range, targeting around 2850
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