BTC Weekly Initial Analysis

LaoLa · 2024-12-16T12:13:09+00:00

BTC contract liquidation longs are concentrated around the 101,000 position, with approximately $2.3 billion. Be cautious of the possibility of a downward cross and a burst of long positions. BTC weekly chart has seen three consecutive long lower wicks, indicating a weakening momentum for longs after the battle between bulls and bears. Pay attention to the risks.

LaoLa

2024-12-16 12:13:09

Key Information this Week

The probability of a 25 basis point rate cut by the Fed in December is 96%.

The interest rate will be cut by 25 basis points in January and March next year.

Focus on the preliminary value of the S&P Global Manufacturing PMI on Monday

Pay attention to Canada’s November CPI and US November retail sales month-on-month rate on Tuesday

Thursday’s focus is on the Fed’s interest rate decision and the summary of economic expectations.

Focus on the US November Core PCE Price Index YoY on Friday

Market Analysis

BTC contract liquidation long positions are concentrated around 101000, with about $2.3 billion. Beware of a cross below triggering long liquidation.

BTC weekly line continuous three long lower shadow, pay attention to the weakening of bullish momentum after the long and short game

BTC trading volume is decreasing, showing a certain degree of divergence between volume and price.

RSI index overbought dull failure, daily level appeared top divergence form, indicators have callback repair demand

The upper resistance level of the daily rising channel track line is 110000

If there is a surge in trading volume on Tuesday and Wednesday, there is still a chance of a breakthrough; if there is a divergence between volume and price, there is a high probability of a pullback and continued consolidation.

It is risky to take short positions against the trend: 107800-110000, gradually build positions, take profit at 103800-101000-98000, and stop loss at 111200.

Low entry, multiple long positions with moderate risk: Build positions in batches of 99000-98000, take profit at 101000-105000-110000, and stop loss at 97000.

Do not chase highs and sell lows, the above does not constitute investment advice, only personal opinions sharing.

BTC-4%

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