Follow the latest cryptocurrency market news live and get the best trading opportunities. Today is Saturday, December 28, 2024, I am Wang Yibo! Good morning everyone☀️
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The three major US stocks fell in the previous session, with the Nasdaq down 1.49% and up 0.76% this week. The S&P 500 fell 1.11%. Crypto markets continue to show erratic volatility, with Bitcoin now trading at $94,384 and Ethereum at $3,325. The market overall is in a delicate transition period.
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Yesterday, the Bitcoin market movement in the evening centered around the 94000 range with fluctuations. After reaching the low point at 93410, the rebound mode was triggered, resulting in a strong fluctuation movement, reaching the high point at 94789. Through the daily candlesticks of Bitcoin, the rise continues to form a bearish candle. During the contraction process, the price exceeded the 97000 position, creating a buyer-attracting situation, followed by a dive-like decline, exceeding the previous low point at 95000. It is good that the effective situation is at the 94000 level below. The basic triangular trend has formed in the past four hours, and once this basic triangular pattern is confirmed, the subsequent trend is usually triggered by a strong bullish signal. When the basic triangular pattern is fully established, the price usually breaks through the neckline. It has great significance, indicating a significant increase in investor strength, and at the same time indicating the approach of the market rally. After breaking the neckline, a rebound may usually occur to confirm the support role of the neckline. If the neckline can provide effective support, the price will continue to rise, igniting an expected bull run. At present, due to the generally reduced liquidity on the weekend, the most stable strategy is to follow the corresponding pressure and support high and low!
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Last night, Ethereum started to rise after hitting a low of 3306, until it reached a high of 3365, and then entered a recovery phase. From the 4-hour chart, we can clearly see that the current market trends have not continued significantly. The market is generally trading around the upper and lower bands of the Bollinger band. After bouncing off the support of the lower band, it seems that the rebound is still in place for now. Considering that we are currently in an oscillatory range, do not over-trade in one direction too much. The upper and lower resistance and support levels cannot be effectively broken, and there is a chance to trade the market up and down. After all, the weekend market can be the beginning and the end, and high selling and low buying will definitely bring some returns. After two days of oscillation, it will be time to take a break and recover!