Market analysis on December 5: Pie is waiting for a 1h level correction before looking for a rebound

Daily Share

Last night, Bitcoin had a 15-minute level correction, and stepped back to around 41,100. Then, it rebounded again at the 15-minute level and hit a high point again, reaching 42,420. The 1h level rebound finally produced a divergence at the sub-level, so we should see a 1h level correction now. After the 1h level correction, as long as it does not break 40,000, there should be another rebound to hit another high point.

Next, we need to pay attention to two points. The first point is whether the 1h level callback is deep. For the time being, the expected callback should not be deep. If the callback is not deep, the next rebound can continue to reach a new high. The second point is the strength of the next rebound. If the next rebound is not strong, we should pay attention to the possibility of a high-level adjustment in the future.
 

BTC

Due to the rapid changes in the short-term market, the article can only predict the market changes at the moment of publication. Short-term players should pay attention to the latest changes in the market and use it as a reference only.

1H：

At the 1h level, we are currently looking at a 1h level pullback, and the pullback should focus on 41000 or 40500. As long as this 1h level pullback is not deep and does not break 40000, there is a chance for another 1h level rebound to continue to reach a new high. After the next 1h level rebound is completed, we need to pay attention to whether there is a divergence.
 

15M：

At the 15-minute level, there has been a 15-minute down move and a 15-minute up move. The current up move should be about the same. The follow-up will mainly depend on the strength of the third move. If the strength is strong and there is no divergence, 5 moves will be enough. If the strength is small, three moves will be enough. As shown by the blue arrow

Of course, if it continues to reach a new high here, it will only be an extension of the 1h rebound, and the subsequent correction will still depend on the 1h level.

After the current daily big positive line appears, there is a certain pressure on the upper side, so the short-term here will be more likely to consolidate for one or two days and complete a 1h callback. In other words, it will turn from a small unilateral rise to a small-level shock, rather than continuing a unilateral upward trend.

ETH

Ethereum is currently running a 1h level decline and is currently running its fourth 15-minute level rebound. If this rebound does not break 2253, there will be another 15-minute level decline around 2148~2276. Overall, for Ethereum, the rebound is not over until it breaks 2130.
 

Trend Direction

Weekly level: The direction is upward. It is currently a continuation of the weekly rebound that started at 15476. When it ends, we will pay attention to the subsequent daily situation.

Daily level: The direction is upward, still extending, and there is still some structure missing before the end.

4-hour level: The direction is upward. The rebound at the 4h level may still need a 1h down and a 1h up.

1 hour level: The direction is downward, looking for a 1h level callback

15-minute level: The direction is downward. There should be at least one downward move at the 15-minute level.