Tracking real-time hotspots in the cryptocurrency circle, seizing the best trading opportunities. Today is Wednesday, December 4, 2024. I am Wang Yi Bo! Good morning, everyone!

Checking in as a hardcore fan, give a thumbs up and make a fortune
Late at night, a heavy message like a boulder into the water caused a wave in the Korean crypto world-the Korean president issued an emergency martial law order. As soon as this news came out, the encryption market instantly fell into a panic of collective take a nosedive. Under the influence of the sudden news last night, a roller coaster market emerged. At this moment, the overall line is rebounding, with BTC falling to a low of 93625 US dollars and now reporting 96100 US dollars, and ETH is now reporting 3628 US dollars. Overnight, the US stock market closed with mixed rises and falls, with the Dow falling 0.17%, the Nasdaq rising 0.40%, and the S&P 500 rising 0.05%. The Nasdaq and S&P 500 indexes continued to create new closing highs. Gold stocks generally rose, and JPMorgan Chase expects gold prices to rise to $3000/ounce next year. In addition, the employment report for November will be released on Friday, and investors should follow the growth rate of the past two months, especially considering the risk of significant revisions to October data. This may affect the Federal Reserve's monetary policy and sentiment!
The short-term trend has already entered the Rebound recovery trend with a slight downward trend. Do not easily think that the short-term retracement is a turning point during the consolidation phase of the trend. In short, the big direction remains bullish, and it is only a difference in the consolidation period. As long as there is no economic recession or black swan events, the fourth quarter of 2024 should be the most stable. There may be some fluctuations from Christmas to January 20th, and there is a high possibility of another wave of Favourable Information after the inauguration on January 20th. Moreover, from the historical cycle point of view, it is usually a big dump and starts to steadily rise after about half a year of Halving. However, it does not mean that you will definitely make a steady profit when the bull market comes. Why? Everyone's approach and cognition are different. In the future, there will be more institutional regular troops constantly getting on board, so small retail investors may face more challenges. Overall, the risks before the second quarter of 2025 are relatively low. The focus remains on the monetary policy of the United States. Whether the Federal Reserve will continue to cut interest rates, the trend of unemployment rate, and whether inflation will fluctuate are all important points to follow.
BTC probed lower yesterday and rebounded, completing a celebrity reversal. Currently stabilizing upwards, short-term expectations suggest a continuation of long positions. The current market situation is like this, Whipsaw is common, but once the direction emerges, it becomes clear. Continuing the evening's decline, after touching the 93620 level, longs formed an oscillation recovery. One step forward, one step back, recovering above 96000 in the early morning. After the Long Wick Candle downswing last night, longs quickly provided recovery space, and now after the rebound, it is once again in a oscillation pattern. Recent rebounds are all accompanied by pullbacks or Long Wick Candles. Correction is a process of energy accumulation, effectively building a new support platform before launching a new rise. The current consolidation actions are all moving sideways within a set range, accumulating energy for the need to rise in exchange for space over time. It is suggested to maintain a retracement in the short term and lay out long positions.
Ethereum also showed relatively active trading hours today, bottoming out at 3557 and rebounding, rising to the evening high of 3673, and then experiencing a pullback under pressure. Influenced by the news, it hit a low of 3504 in the evening, initiating a rebound. The local breakout signal and the accompanying selling pressure are more significant than yesterday, indicating that the market may face some downward pressure in the short term. Subsequently, long positions regained lost ground, returning to the previous range. On the four-hour chart, a long lower wick hammer line was left below, signaling a rallying of long positions. The hourly trend continues to contract, and currently, the bearish momentum appears weak. Therefore, the focus in the future is still on pullbacks.