11:00


Reviewing yesterday's trend, during the day it was sluggish, then a rapid decline started a few minutes after the US market opened, breaking the strongest support at 3110, reaching around 3040 at the lowest point. A weak rebound followed, and Bitcoin also formed a downward channel. That's just how the market is—there's always an unexpected moment.
So, as shown in the chart below, currently the four-hour timeframe shows no signs of stopping the decline. The levels below four hours have formed a sideways pattern, but they are also at a critical point—the third point of the trend line. Whether it can hold and bounce strongly depends on whether it can stabilize above 3140. Once stabilized, bulls may aim for 3200-3240. Currently, it’s also oscillating, and further downward movement isn't ruled out, because there's no stopping signal on the four-hour chart. Another possibility is a broad-range oscillation, with a one-hour level probing around 3030-40. Honestly, there's not much to do in this range.
Support levels for Bitcoin are 89200-87300-600 below, and resistance levels are 92800-94600 above. Similarly, breaking and stabilizing above 90600 may lead to an upward attack. Bitcoin and Ethereum have different floating rates, which cause their price movements to differ. There's no need to do anything right now. Take a good rest over the weekend; go play in the snow.
This is just my personal opinion for reference.
BTC-1.61%
ETH-0.48%
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Beemanvip
· 12-13 08:32
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