Preface: Investment involves risks, and operations should be conducted with caution.

Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!

Article writing time: December 19, 13:38 Beijing time

Market Information

1. Garrett Jin: The first target for Bitcoin is $106,000, and for ETH, it is $4,500;
2. The Bank of Japan announced an interest rate hike of 25 basis points to 0.75%, the highest in nearly 30 years;
3. A giant whale was liquidated with a loss of $5.15 million, and HYPE long positions are only 1.44% away from the next liquidation;
4. The Federal Reserve's reserve balance has dropped to $2.93 trillion, the lowest since December 3;
5. Over the past 24 hours, more than $433 million in cryptocurrency positions have been liquidated;

Market Review

Yesterday evening, Bitcoin initially surged, reaching a high of 89,468, then quickly fell after midnight, with a low around 84,401, dropping straight down by 5,000 points. Ethereum's surge peaked around 2,997, then fell straight down to 2,772, with the rebound basically reaching our target set yesterday. Today, we will focus on breaking the high point during the day;

Market Analysis

Bitcoin

Yesterday, our long position was set around 86,500, with a target of 89,000. The surge provided us with an exit opportunity, yielding a profit of about 3,500 points. After the surge, there was no breakout, and then a straight drop occurred over the next four hours, closing with a large bearish candle. The daytime drop did not continue, leading to a slight rebound. Recent movements have been quite rapid, and market news indicates that bulls are being endlessly harvested; such movements can easily lead to losses if one is too greedy. On the daily chart, support around 85,500 has not been broken, and it remains effective. Short-term surges need to focus on breaking the highs of the previous two days. If the high of 89,460 can be effectively broken, a large-scale rebound will begin. In the short term, pay attention to the upper level of 88,400; if reached, a short position can be set after a four-hour candle closes with an upper shadow. Recommended stop loss at 89,500, with the target first looking at around 85,500. If it breaks below 84,401, hold until 80,000. If the four-hour candle does not close with a pin bar, do not short. Watch for a breakout at the high of 98,468; if broken, it can be chased up to around 91,000. Manage your entry accordingly; for short-term trading, control risks and manage profits and losses yourself;

Ethereum

For Ethereum, our long position was set around 2,810 yesterday, with a target near 2,950. The highest point of the rebound was 2,997, providing us with an exit opportunity, yielding a profit of about 140 points. The movement is similar to Bitcoin; the surge did not lead to a breakout, and the drop again approached 2,750 before a daytime surge occurred. After five consecutive bearish days, Ethereum finally closed with a bullish candle. During daytime trading, first focus on the area around 2,950; if this position is reached and closes with an upper shadow, a short position can be set, with a stop loss at 3,000. The target is set at 2,800-2,750. Conversely, if there is no upper shadow, do not set a position. If the high of 2,997 is broken, it can be chased up to 3,100-3,150. Manage your entry opportunities accordingly; for short-term trading, control risks and manage profits and losses yourself;

In summary:

Bitcoin and Ethereum are experiencing significant short-term volatility, and attention should be paid to breaking the short-term high points;

The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!

Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;

In the cryptocurrency world, some people's demands can only be met by scammers. Everything cheap must be taken advantage of by oneself, and only scammers can satisfy these.

Trading is not always smooth; not every transaction goes as planned. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I pay more attention to psychological development. Most people do not fail against themselves but against the self that confines them in a room. Even if life or trading is unsatisfactory, believe that there is light in the world and love among people. Even a small piece of happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, people in the cryptocurrency world.

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