Yesterday, there was profit from long positions. Intraday support and rebound retracement can still be used for positioning! 12.12 Bitcoin ETF Thinkings

The Fed's 25 basis point rate cut didn't boost the market, Powell was too straightforward, and his speeches mainly suppressed the crypto bulls. However, yesterday’s idea of expecting a retracement intraday was in line with expectations, and the idea of buying on retracement was validated. Bitcoin can easily gain 2000-3000 points, and Ethereum easily gains over 100 points! Follow the trend to profit, those who haven't closed positions can move stop-losses to lock in profits or take profits.

The daily chart shows Bitcoin closed with a long lower wick bullish candle this morning, while Ethereum closed with a long lower wick hammer bearish candle. Both have long lower wicks, indicating resistance during retracement. Therefore, retracement can still be used for positioning!

12.12 Long Position Strategy:

Bitcoin retraces to 90,000-90,500, continue to go long. Conservative traders can enter at 89,000-89,500, with a stop around 88,000. Targets are around 92,000-93,000, and if broken, look at 93,500-94,500. Continue to move stop-loss to lock in profits as needed.

Ethereum retraces to 3130-3170, go long. Conservative traders can enter at 3070-3100, with a stop around 3050. Targets are around 3250-3280-3300, and if broken, look at 3350-3380-3400-3430. Continue to move stop-loss to lock in profits as needed.

12.12 Short Position Strategy:

Bitcoin’s first rebound from 94,000-94,500, short one position. Stop around 95,500. Targets are 93,000-92,500, and if broken, look at 92,000-91,000. Continue to move stop-loss to lock in profits as needed.

Ethereum’s rebound from 3370-3400, short one position. Stop around 3450. Targets are 3330-3300, and if broken, look at 3280-3250-3200. Continue to move stop-loss to lock in profits as needed.

Recent updates have been slow, but the points given are quite accurate. Following the trend, overall direction, and reversal points are in line with expectations. Follow the main trend, gradually move stop-losses to lock in profits, and take the opposite side with good stop-losses to manage risks!#美联储降息