December 5thMarket Analysis from LBank Derivatives

BTC

Let’s take a look at the 1D timeframe of the BTCUSDT chart. We can expect the pump to $18k. Now Bitcoin is printing wave 4 inside wave 3. The maximum target for wave 4 is $18k (just below wave 1 bottom).

Resistance level to watch out for: $18k

Support level to watch out for: $15.8k

ETH

There is a rumor that The Shanghai Upgrade will be postponed to next year, which is good news for the short term as stakes can not get their funds(staked ETH) back before the upgrade. The rest is still following BTC.

Resistance level to watch out for: $1300

Support level to watch out for: $1260

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