In the past 24 hours, a total of 156,558 people worldwide have been liquidated, with a total liquidation amount of $540 million! Bitcoin and Ethereum experienced a dramatic price swing yesterday, as tomorrow is the 19th, the news of Japan's interest rate hike has been released, and US stocks also plummeted after opening, indicating that some funds are seeking safe haven.
The next key time point is the year-end options settlement on the 26th. As long as the Japanese interest rate hike path is in line with expectations, it will not fall below in December. Then, the trading will revolve around the options market on the 26th. Therefore, it is still possible to buy the dips around 84 and 85 as the bottom of the swing.
BTC
Yesterday, the bulls tried to test the waters, pushing the price up to 90,000 before it immediately fell back down. There was also floating supply at play, proving that the market's chips were not yet unified.
BTC closed with a long upper shadow and a bearish body this morning, forming a bearish engulfing pattern with yesterday's bullish candle. The MACD shows increasing bearish momentum, while the KDJ and RSI indicators are trending downwards. A bearish outlook is warranted, but chasing the short position directly is not recommended. A range-bound approach is still advised.
1) The entire fluctuation range is divided into three parts, with 89000 as the central axis. Above this level is considered a strong market, and below it is considered a weak market.
2) As long as the key support level of 83700 is not broken, there is no need to be pessimistic. Currently, it is at a support level on the 4-hour chart, so do not directly short at support and resistance levels.
4-hour support levels: 83700-85500; 4-hour resistance levels: 89000, 94000
ETH
ETH surged violently to 3030 and then plummeted to a new low of 2788. On the 1-hour chart, it followed two consecutive narrow-range fluctuations → rapid surges → engulfing candlesticks, a very typical false breakout pattern.
The intraday strategy is primarily shorting, with resistance levels at 2960 and 3030. Based on yesterday's high, continue to short today. Short-term targets are 2880, 2800, and 2700, while the weekly target remains at 2600, and the swing target remains unchanged at 2500.
Today's low was created by a sell-off after last night's rally, so don't short during the day. Tonight, the price may continue to rise before falling even lower.
The market has been fluctuating between bulls and bears lately, so never chase the rally. A sharp rise will almost always be followed by a rapid fall; it's usually a pump-and-dump scheme, a false rally. Any pullback is likely a trap for bulls. Avoid "buy the dips" until there's a significant downward spike. Position sizing is always more important than entry point!
SOL
The short-term resistance is very clear: a downtrend line suppressing the price, plus a horizontal resistance zone. However, after a short-term surge, the bulls were quickly sold off, creating a false breakout pattern. It can only be said that the bulls want to make some progress, but the overall trend is still controlled by the bears!
SOL has fallen to the daily support level, but this support has already been exhausted. There is no need to go long at this level, as the success rate is so-so. As for going short, we can only wait for the daily support level to be broken before participating.
TAKE
Currently, there are no signs of distribution; it's been accumulating without a large outflow. I don't know what will happen next. The key levels for the market maker are 0.35 and 0.325. Regardless of whether long , use key stop-loss levels at 0.35 and 0.325, as well as 0.281 below.
HYPE
HYPE has broken below the lower boundary and is accelerating its decline. Yesterday's positive news about asset disposal only provided brief support before being quickly swallowed up by the strong selling pressure. There has been no further acceleration in the price action, and the target is around 20 to observe the market's reaction.
VOOI
The total token supply is 1 billion, with an initial circulating supply of 244 million (24.42%). The pre-market price is 0.11 USDT, and the pool price is 0.1 USDT, corresponding to a circulating market capitalization of 24 million USDT and a FDV of 100 million USDT.
The project is good, featuring a multi-chain abstract aggregator perpetual contract with no gas fees. Since its launch, the total transaction volume has reached approximately $27 billion, with a daily transaction volume of approximately $200 million.
Although YZi Labs has invested and raised funds, there is selling pressure from pre-sales and airdrops. The pre-market/pool price is the same as the pre-sale price. It is recommended to pay attention to the trend at the opening and see if the pre-sale price has fallen below the issue price before considering whether to intervene.
The market is constantly changing, and specific entry and exit points should be determined based on real-time conditions. Follow the trend after a breakout! No matter how high your confidence level, please strictly adhere to your stop-loss and take-profit strategies! That's all for today! Follow me so you don't get lost! ( Add me on QQ: 3958133807 with a note, and I'll add you to my learning and discussion group.)
