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Due to the impact of Christmas, the trading volume of the US stock market significantly decreased yesterday, all of which were quantified in trading. Moreover, the US stock market also experienced significant fluctuations, with the opening and closing prices being close to each other.
Recently, the trend has been relatively good, with precious metals including gold, silver, and copper, especially silver prices rising nearly 10% within the day. At least a large portion of funds have flowed into the precious metal market, leading to a weaker cryptocurrency market.
Yesterday was the largest option delivery day in history. Due to the impact of option delivery, Bitcoin stretched strongly during the day and fell directly at the opening of the US stock market in the evening. Although a logic was drawn, it did not significantly disrupt the structure of the 15 minute cycle. The daytime stretch turned into a false burst, and Bitcoin formed strong support around 86800 and did not fall below it.
Since November 22nd, Bitcoin has formed a box with activity exceeding 10%. The fluctuation range has significantly decreased in the past week, around $4000, and there is a dense turnover area around 87000, indicating that the market is about to usher in a relatively large unilateral market trend. From a technical perspective, we cannot know whether the large unilateral market trend is bullish or bearish, but the market has already told us that there is a possibility of a major reversal. Due to today being the weekend, the overall trading volume and volatility will be relatively low, which is a rare opportunity to make small fluctuations. For most mainstream currencies, there is basically not much amplitude, so it is much higher and lower in a limited space.
BTC intraday strategy: buy long near 86800, buy short near 88400
For Ethereum, its box is even more obvious and all signs of false breakthroughs, so Ethereum's bulls are relatively weak. Yesterday, the delivery of Ethereum options basically touched the position of the maximum pain point of 3000, so in fact, the impact of Ethereum option delivery is relatively large. Although it did not reach the position of 3000 in the end, it is only one step away from 3000. The probability of exercising both call and put options will be relatively low. As usual, the volatility of Ethereum is relatively large, but yesterday Ethereum did not show a very long trend candlestick, indicating that ETH's overall long and short positions are currently in a relatively balanced state.
ETH intraday strategy: buy long near 2900, buy short near 2980
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Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.