Track real-time hotspots in the cryptocurrency circle, seize the best trading opportunities. Today is Sunday, December 1, 2024. I am Wang Yibo! Good morning to all coin friends ☀ Hardcore fan check-in 👍 Like and make a fortune 🍗🍗🌹🌹

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Today marks the beginning of a new month, with only one monthly candle left until the end of 2024. Looking back at the explosive market in November, BTC skyrocketed to the 100,000 mark, while ETH struggled to reclaim the 3,700 level and is just a step away from reaching 4,000. Established altcoins such as XRP, DOGE, LTC, ADA, and others have also seen varying degrees of growth. The long-awaited Bull Market has quietly begun, even though the alt season may not be here yet. Some coins have shown strong and impressive gains. In the process of investing and trading in the crypto market, we must follow the market zone rotation and be prepared to seize opportunities in advance. Otherwise, we will only be passing through the vast sea of coins. Let's join hands with Gate.io to create brilliance in the final battle of December!
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BTC continued the consolidation pace over the weekend yesterday. From a technical perspective, the weekly chart showed three consecutive upswings after a period of wide-ranging consolidation, all of which were presented as large bullish candles. However, after touching the 100,000 mark, the price of the coin was pressured and went down with a bearish candle, forming support at the bottom. Long positions quickly counterattacked and regained lost ground, with the price staying above the upper track. At the same time, the MACD on the attached chart continued to increase with a bullish cross, further confirming the strong structure. Therefore, the overall direction in the future remains bullish. On the daily candlestick level, the Bollinger Bands are converging upward, and the price of the coin stopped above the middle track after a period of consecutive declines, indicating strong support at the middle track. As long as the price does not fall below the middle track, the bullish view will remain dominant. The current structure is very clear, with the overall trend revolving around long positions, and any pullback to the range of 94,000-93,000 is an opportunity for long-term positions.
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ETH started to rise and strengthen. On the weekly chart, there were consecutive large bullish candles, indicating a strong structure with a continuation. The retracement fell and stabilized above the support level at 3531, reclaiming the previous day's retracement. It closed above 3700, the high level. The daily candlestick formed a bullish candle and broke through the recent high again. After oscillating and testing higher levels, today's weekly closing may be followed by repeated testing of highs and retracements. Overall, the 4-hour chart is still in a rising trend, but the market data shows a step-by-step approach with retracements accompanying each attempt to test higher levels. The previous wave of upper shadow highs was reclaimed the next day, and the retracement was not sustained. The critical point is at 3530 for the short term, which is also a turning point. The uptrend remains intact above this level, but it may also be accompanied by oscillations and reversals. The fluctuation has increased, which requires careful consideration of entry points. In terms of operation, after stabilizing following a retracement, it is advisable to go long at a lower level. The first support level is around 3650, taking into account the hourly chart pattern.