Track real-time hotspots in the cryptocurrency circle and seize the best trading opportunities. Today is Tuesday, December 10, 2024. Good morning, friends of the currency ☀ Hardcore fan check-in 👍 Like and make big money 🍗🍗🌹🌹

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Overnight, the three major indexes collectively fell, with the Dow Jones falling 0.54%, the Nasdaq falling 0.62%, and the S&P 500 falling 0.61%. Cryptocurrency concept stocks also fell, with Riot Platforms falling over 13%, C—base falling nearly 10%, and Bit Digital falling over 7%. Nvidia fell 2.55% due to suspected violations of antitrust laws, and the Market Supervision Bureau has initiated an investigation against Nvidia. With the regulatory wind blowing, BTC fell to a minimum of $94,111, and ETH fell to a minimum of $3,465. BTC and ETH quickly rebounded to the support level. The contract market experienced another surge in long orders, with a total of $807 million liquidated in just 1 hour, including $771 million in long orders and $36.05 million in short orders.
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Midnight BTC longs did not encounter much resistance and the overall trend was dominated by shorts. In the early morning, there was a continuation of the downtrend, with BTC reaching a low of 94111. It was later recovered by longs to 97000, indicating that this key level is still somewhat strong. However, BTC's long wick candles have been consistently taken back by longs. Since the decline from the high position, it can be clearly seen from the market data that the downtrend cycle is much longer than the uptrend cycle in terms of time, and it has a greater magnitude than the previous uptrend. Therefore, in the weak market, the downside space should not be underestimated. The structure has not changed, and the trend remains weak. Until there is an effective change in market trend, the trend structure will remain unchanged. There is also a long shadow below the hourly level, forming a hammer pattern at the low. So, in the morning, we can observe the strength of the rebound in line with the trend.
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Ethereum Long Wick Candle bottomed out at around 3465. According to the market data, the daily candlestick structure turned bearish and retraced, showing a deeper Lower Shadow. The price once retraced to near the lower band, although it did not break through the lower band, the market also provided a certain amount of liquidation pressure for the longers. From the current situation, the retracement of the Lower Shadow has been completed, and the market has reclaimed the middle band. As long as the middle band holds, isn't this a similar plot to last Friday? With the middle band holding, we can continue to maintain the upward trend.