December 11th Bitcoin and Ethereum Trend Analysis and Trading Strategy!
On the daily chart, Bitcoin hasn't changed much. Although it's showing a steady upward trend, it encountered resistance and fell back after testing the 94,000 level again. This resistance level remains valid; as mentioned before, a break above it could lead to the 100,000 mark. Otherwise, it will likely remain within a range. Short-term support is at 89,000, and a break below that would bring it back to the bottom of the range at 84,000. Ethereum, on the other hand, has broken out upwards, but encountered resistance at 3420 after breaking through 3230. A break below that could target 3600, with support at 3170-3230. Overall, Ethereum is not moving in sync with Bitcoin. As mentioned yesterday, Bitcoin might catch up, or Ethereum might fall back. On the 4-hour chart, Bitcoin tested the top of its trading range around 94,000 before encountering resistance and falling back to the short-term support level of 89,000. Ethereum, while having broken above its trading range, fell back after testing resistance at 3450. A break above 3450 could see it rise to 3630. Currently, short-term resistance is back at 3230, with support at 3170-3120. Yesterday's buy orders on Bitcoin and Ethereum have reached their profit targets. The market is currently retracing, and we recommend shorting on any rebounds. Trading strategy: Bitcoin: Short at 91,000-91,500, target 90,000-89,000, stop loss above 92,500; Ethereum: Short at 3230-3260, target 3150-3100, stop loss above 3300. These strategies are time-sensitive; please refer to our profile for specific real-time guidance.