On December 2nd, is the crackdown on virtual currencies unfavourable information for BTC and ETH?

Last night, cryptocurrencies fell broadly, and US stocks also declined. The reason? It is due to the Bank of Japan clearly indicating its intention to raise interest rates this month. There has been a lot of discussion about the negative impact of Japan's interest rate hike on our crypto circle. It is undeniable that Japan's interest rate hike will tighten global liquidity, which will lead to negative expectations for global asset pricing.

Yesterday, we set a long position for BTC near 84800, with a minimum dip down to around 84700 before starting to rebound. After the US stock market opened, it peaked at around 86700, which also had a two-thousand point range. However, it still faced resistance at 86900, failing to break through and starting to pull back until it reached around 83800. Currently, the market is still beginning to rebound, and we continue to focus on the support level of 82300 mentioned in my post yesterday. If it breaks, it will open the floodgates; if it doesn’t break, we still look for a pullback.

The morning star pattern formed on the 4-hour candlestick is a strong bullish signal, and the price has broken through the short-term moving average with increased momentum. However, the extreme decrease in trading volume brings significant uncertainty to the sustainability of the rebound. In addition, the long-term moving averages are still in a downtrend, indicating that the medium to long-term market structure has not yet fully repaired.

BTC trading suggestion 85900-86350 long Target 88500 breakthrough look at 89800

ETH trading suggestion 2758-2765 long target 2863 breakthrough look at 2895 $BTC $ETH #今日你看涨还是看跌？