December 22nd Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
BTC remained range-bound yesterday, with attention focused on the resistance level of 89,500-90,000. The fundamentals showed no significant improvement, and the overall trend remains bearish. On the daily chart, watch for changes in trading volume and await consolidation. The weekly chart also maintains a downtrend, awaiting stabilization.
Bitcoin (2) is consolidating in tandem with BTC(1), with attention focused on the 3020-3050 resistance level. A head and shoulders pattern has formed on the daily chart; monitor volume and wait for further consolidation.
The altcoin market is consolidating in sync with mainstream trends, but overall liquidity remains poor. We'll wait for altcoins to stabilize before considering further action. Alpha activity points requirements are increasingly stringent, so we've suspended point farming and will consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC has returned to a healthy range on the 1-hour and 4-hour charts, but is below that range on the daily chart. Consolidation is expected today, with support at 87000-87500 and resistance at 89500-90000.
ETH has returned to its healthy range on the 1-hour and 4-hour charts, but is below it on the daily chart. Consolidation is expected today, with support at 2900-2950 and resistance at 3050-3100.
