The expected pullback returned on Friday night. I preemptively positioned for BTC at 9250 down to a low of 8800. For ETH, the short at 3180 also reached the third target near 3070. This move isn't taking off just yet!
Looking at the overall market structure, the small-scale pullback is basically done. Next up are rate cuts from the US and rate hikes from Japan, both bearish factors, but before that, there will likely be another round of rebound.
BTC Currently, after the wick, the market is in a consolidation and recovery phase. The intraday rebound resistance is at 8980. Only if this breaks will the rebound gain strength. If it breaks through, the next resistance is at 9140-9250. Before a breakout, don’t rush to chase. Watch for opportunities around 8800-8620 below.
ETH ETH is already in a sideways range. Rebound resistance is at 3050. As long as it doesn't break this level, it will keep consolidating. If it breaks, look for resistance at 3106-3150 above. On pullbacks, support is at 2978-2920. As long as these two levels hold, there’s still room for a rebound.
Weekend market will mainly be range-bound—wait for the right levels before entering! #十二月行情展望
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BTC/ETH Analysis for December 6:
It's the weekend, so let's keep it brief!
The expected pullback returned on Friday night. I preemptively positioned for BTC at 9250 down to a low of 8800. For ETH, the short at 3180 also reached the third target near 3070. This move isn't taking off just yet!
Looking at the overall market structure, the small-scale pullback is basically done. Next up are rate cuts from the US and rate hikes from Japan, both bearish factors, but before that, there will likely be another round of rebound.
BTC
Currently, after the wick, the market is in a consolidation and recovery phase. The intraday rebound resistance is at 8980. Only if this breaks will the rebound gain strength. If it breaks through, the next resistance is at 9140-9250. Before a breakout, don’t rush to chase. Watch for opportunities around 8800-8620 below.
ETH
ETH is already in a sideways range. Rebound resistance is at 3050. As long as it doesn't break this level, it will keep consolidating. If it breaks, look for resistance at 3106-3150 above. On pullbacks, support is at 2978-2920. As long as these two levels hold, there’s still room for a rebound.
Weekend market will mainly be range-bound—wait for the right levels before entering! #十二月行情展望