Currently, trend judgment only needs to focus on BTC. Due to insufficient funds and low activity in the market, both ETH and SOL are just following along, with only slightly amplified volatility.
At present, BTC is around 93,000, which is a key area for several reasons: 1. It is the high point of the previous rebound. 2. It is the 4-hour EMA resistance level. Since November, every rebound has failed to break through this resistance. 3. It is above the daily Bollinger middle band.
If BTC does not fall back below 91,500 in the next 3 days, then the previous continuous downward pattern will be considered broken, and we may see the strongest rebound since the recent decline. Why is it a rebound and not a reversal? Because a reversal in moving averages requires time to confirm.
BTC trading suggestion: Short around 93,000, stop loss above 94,000. Take profit at the first target of 91,800, second target of 91,000, and third target of 90,300.
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12.3 Wednesday Midday Market Analysis.
Currently, trend judgment only needs to focus on BTC. Due to insufficient funds and low activity in the market, both ETH and SOL are just following along, with only slightly amplified volatility.
At present, BTC is around 93,000, which is a key area for several reasons:
1. It is the high point of the previous rebound.
2. It is the 4-hour EMA resistance level. Since November, every rebound has failed to break through this resistance.
3. It is above the daily Bollinger middle band.
If BTC does not fall back below 91,500 in the next 3 days, then the previous continuous downward pattern will be considered broken, and we may see the strongest rebound since the recent decline. Why is it a rebound and not a reversal? Because a reversal in moving averages requires time to confirm.
BTC trading suggestion: Short around 93,000, stop loss above 94,000. Take profit at the first target of 91,800, second target of 91,000, and third target of 90,300.