Bitcoin experiences another rollercoaster ride in the market

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1: Swiss Lugano City Fully Implements Bitcoin Payment System, Residents Can Pay Taxes with Cryptocurrency

2: Barclays: Expect the Bank of Japan to Raise Interest Rates in July and December Next Year

How do Bitcoin and Ethereum look today? Let me start with some good news. Last night, a fan gave me feedback saying they made $17,000 profit with just $1,400 in less than a month, and they only used my article’s support and resistance levels as a reference for their trades. I was truly very happy to hear that because it shows that my daily market analysis is valuable and can really help you make money. The US stock market remains closed for a few more days during Christmas, so liquidity is still relatively low. Yesterday, I also took a day off because the recent market movements have been within Tommy’s trading range, without deviation. On Christmas Eve, we repeatedly emphasized that both long and short opportunities exist, and the key is to patiently wait for the right entry points. Many fans have responded that they’ve been enjoying both long and short trades recently. So, the market won’t be making big moves like usual; currently, on the 4-hour chart, it’s mostly sideways consolidation. During such times, we shouldn’t chase highs or sell lows aggressively. Instead, take some profits and then exit, and use this downtime to improve your basic skills. When the market moves again, you’ll be able to hold your positions without panic. #BTC# ETH

The US stock market opens after a day and a half of closure; the three major indices open with mixed results: Nasdaq up 0.13%, Dow down 0.03%, S&P 500 up 0.03%. Bitcoin also faced resistance after rising to around 89,500 in early trading and consolidated sideways for the day. After the US stock market opened in the evening, it quickly declined, with a low around 86,500. Fortunately, the support from the Nasdaq helped stabilize the market. Today’s support zone for Bitcoin is in the range of 86,500-88,700; resistance is at 89,100-91,500. Currently, Bitcoin’s 4-hour chart shows clear consolidation, with volume and momentum not very strong.

Therefore, today’s strategy is to wait for a pullback to the support level. Once stabilized, we can consider long positions aiming for the resistance zone. If the momentum isn’t strong, we should stay defensive and avoid forcing trades. The current rhythm is to wait for a pullback to confirm a good entry point or to exit if encountering resistance during a rebound. Ethereum’s support zone today is between 2,887-2,788, with resistance at 2,980-3,030. If the price pulls back to 2,887-2,788 and stabilizes, that’s a good opportunity to buy low. If it rebounds to 2,986-3,030, and volume can’t break through, it’s better to exit and wait for the right moment. To sum up today’s main approach: Christmas liquidity is low, and the market is consolidating sideways. Buying on support and selling at resistance with small profits is the safest rhythm today.

Liquidation large order map (below ETH chart)

Today’s market is quite relaxed, which is also a good time to focus on building basic skills, learn more technical analysis, and practice patience. Waiting for a real breakout will allow you to hold positions confidently without panic. I am Tommy, a trader who is also on a journey of self-improvement in the Web3 space. If you want real-time key entry points and personalized strategies, click on my profile to join the community. We have professional trading instructors available around the clock to help you stay calm and avoid forcing trades alone.