December 7 th Market Analysis from LBank Derivatives

BTC

We are still positive here. BTC is touching the trend line and hopefully will bounce back from here. Here is a strategy as a reference. Buy a small portion now at around 16.8k. Buy some more if the price reaches 16.5k. Targeting 17.8k and worst case scenario, stop your loss at 16.2k.

Resistance level to watch out for: $18k

Support level to watch out for: $16.2k

ETH

Ethereum is preparing for a mighty rally with an inverse head and shoulders setup. The price should make a small pullback in the short-term with 0.618 fib level as an ideal target, and from there set off to the 1440 level which represents an important key level that played as both support and resistance many times. The price level also corresponds to the 200 daily SMA , which was a strong resistance during this bear market.

Resistance level to watch out for: $1300

Support level to watch out for: $1160

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