12.31 Market Analysis

Regarding the future trend of Bitcoin, it remains sideways.
Last night, Bitcoin was bought around 87,800, but the price faced resistance around 88,800 and did not break the previous high. The decline did not reach the previous low, instead it hovered between the 87,800 support level and the newly formed high, confirming yesterday's view of sideways movement.
Ethereum's volatility is relatively larger. On the evening of the 30th at 10:30, it retested the 15-minute EMA120 and EMA144, rebounded after breaking through 2958, and pierced above 3000, but was immediately suppressed back to 2968. The last five one-hour K-lines are consecutively bearish, with Ethereum's lowest spike around 2940, while the closing price remains above the current one-hour EMA120 and EMA144 at 2955. It has been operating above these levels so far.
Currently, Bitcoin is trading within the four-hour EMA120 and EMA144 in the 88500-88800 range. The one-hour EMA120 and EMA144 have already risen above 87800. The range-bound struggle with decreasing volume suggests that a quick resolution is unlikely; the market remains sideways. The fifteen-minute continuation of Bitcoin's movement has not yet completed, but its momentum is waning.
Overall, the outlook is a slight adjustment based on yesterday's analysis.
Key resistance for Bitcoin is around 89500, with support at 87500.
For Ethereum, focus on the 3000 level above and the 2930-2950 zone below. Based on yesterday's movement, the current stance should be active. If holding a heavy position, consider reducing some holdings, preferably before the New Year.
For adding to Bitcoin positions, consider 89350 with a stop at 90185.
For Ethereum, add at 3008 with a stop at 3038.
Conservative traders can consider entering short positions during upward corrections, but execution is not guaranteed.
If going long during a rebound, consider entering around 87300, with a stop at 86500.
For Ethereum, enter at 2928 with a risk-reward ratio, and a stop at 2908.
The overall trend remains sideways with a bearish bias. Adjustments can be made based on market sentiment. #btc #eth