December 24th Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
Yesterday, BTC experienced a slight pullback, failing to break through the resistance level and subsequently falling. The fundamentals have not shown significant improvement, and the market remains predominantly bearish. On the daily chart, pay close attention to volume changes and await consolidation. Monitor the fundamental situation closely. The weekly chart still maintains a downtrend, awaiting stabilization.
Bitcoin (2.5) followed BTC) pullback, failing to break through key resistance levels and awaiting consolidation. Watch the 2970-3020 resistance level; short positions can be initiated at this 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 the altcoin market to stabilize before making any moves. Alpha activity points requirements are getting increasingly higher, so we've suspended point farming and will consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC is below the healthy range on both the 1-hour and 4-hour charts, and also below the healthy range on the daily chart. Consolidation is expected today, with support at 86,000-87,000 and resistance at 88,000-89,000.
ETH is below its healthy range on the 1-hour and 4-hour charts, and also below its healthy range on the daily chart. Consolidation is expected today, with support at 2850-2900 and resistance at 2970-3020.
