Yue Ying: 12.3 Bitcoin and Ethereum Market Analysis for Today – Beware of Another Plunge if Key Resistance Isn’t Broken

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BTC Technical Analysis ———

The market has recently seen a strong V-shaped rebound. On the daily chart, BTC has recovered the previous day’s losses with a solid bullish candlestick and is back above 90,000. Intraday, the bullish momentum continues, testing the 94,000 range. The Bollinger Bands are narrowing, and the short-term moving averages are running near the middle band. The MACD fast and slow lines are trending upward with increasing volume, and the KDJ is crossing upward—pay attention to the resistance near the 100 level. The VR indicator is consolidating near the 50 mark.

On the four-hour chart, the price has rebounded continuously, breaking through previous highs and now testing the upper band. The Bollinger Bands are slightly opening, the short-term moving averages are turning upward, the MACD lines are crossing above the zero axis with sustained volume, and the KDJ is showing signs of turning near the 100 level. The VR indicator is consolidating near 160. Overall, this rebound after the recent drop is decisive, with little consolidation at the lows, mainly driven by news. However, don’t chase longs at high levels. Watch the resistance near the EMA200 on the four-hour chart and short-term support near the daily middle band. If broken, we could see another roller-coaster move. Refer to the short-term suggestions.

BTC Short-term Suggestions: Buy at 91,800, Sell at 95,200 (If the strategy is activated and profitable, manage your positions accordingly.)

ETH Technical Analysis ———

On the daily chart, ETH had a strong breakout above the middle band but hasn’t surpassed the previous high. On the four-hour chart, after a strong bullish candle, it’s moving upward in a consolidation. The Bollinger Bands are slightly opening. The overall technicals are similar to BTC and can be referenced together. Watch for support near 2,980 below, and also pay attention to resistance near the EMA200 on the four-hour chart. Refer to the short-term suggestions.

ETH Short-term Suggestions: Buy at 3,005, Sell at 3,158 (If the strategy is activated and profitable, manage your positions accordingly.)

—I am Zhou Yueying, a teacher focusing on technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let’s exchange ideas and profit together! #BTC #ETH