Bitcoin battles at the 88,000 mark: Is the Christmas week a buildup for a breakout or a bull trap?
The cryptocurrency market is currently at its most delicate moment of the year. Bitcoin continues to hover around $88400, while Ethereum fluctuates around $3016. On one side is the macro risk aversion surge with gold skyrocketing to a historic high, while on the other side is the outflow of funds from the crypto market and massive option settlements. Both bulls and bears meet in the critical Christmas week, and a directional choice that will determine the trend for the end of the year and even early next year is about to be revealed.
Yesterday, Jiang Feng's article clearly pointed out to continue focusing on short positions. Let everyone participate in short positions around 89500 to 90600. The price peaked at around 90600 before starting to retrace, with an average price near 90,000. In the evening, it approached around 87880 before starting to rebound. Let everyone participate in short positions around 3060 to 3080. Subsequently, the price reached around 3078 and started to retrace again in the evening, also touching the important support level of 2960 mentioned in the article, which is our first target! So there is a lot of profit space. Therefore, our trading strategy for the day remains unchanged, continuing to focus on short positions. Specifically, we need to find answers in the market! Remember to patiently read to the end! Interaction is key, and your likes are my biggest motivation for updates! Back to the main topic, let’s analyze the market together with Jiang Feng!
Yesterday, Jiang Feng's article clearly pointed out to continue focusing on short positions. Let everyone participate in short positions around 89500 to 90600. The price peaked at around 90600 before starting to retrace, with an average price near 90,000. In the evening, it approached around 87880 before starting to rebound. Let everyone participate in short positions around 3060 to 3080. Subsequently, the price reached around 3078 and started to retrace again in the evening, also touching the important support level of 2960 mentioned in the article, which is our first target! So there is a lot of profit space. Therefore, our trading strategy for the day remains unchanged, continuing to focus on short positions. Specifically, we need to find answers in the market! Remember to patiently read to the end! Interaction is key, and your likes are my biggest motivation for updates! Back to the main topic, let’s analyze the market together with Jiang Feng!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
87,639.95
-0.61%
ETH
2,948.92
-1.06%