December 19th Market Analysis from LBank Derivatives

BTC

Over the weekend, the BTC market showed little movement and remained in a sideways consolidation phase. Looking at the four-hour chart, there was some rebound, but with limited strength. The price has been held down by the moving average on two occasions without breaking through, indicating strong downward pressure.

The market is currently in a correction phase, with the MACD histogram showing a golden cross, indicating a bullish trend. However, the market is unlikely to see a significant breakout in the short term, and even if it does eventually break through the resistance, there is likely limited space for upward movement.

Resistance level to watch out for: $17k

Support level to watch out for: $16k

ETH

The ETH market also saw relatively little movement yesterday, reaching a high of around $1,195 before being pressured downward to a low of $1,172, where it rebounded off the support line. The current price is around $1,180. On the four-hour chart, the upward pressure is clearly visible, with the market continuing to close with long upper shadows and the moving averages pointing downward. The rebound had no strength, and although the market is in a correction phase, is clearly biased toward a bearish trend. The key focus for the downside is the $1,160 support line, and if it breaks, the market will continue to trend downward. Both the daily and weekly charts are bearish, with the market remaining weak overall.

Resistance level to watch out for: $1200

Support level to watch out for: $1160

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