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Today marks the beginning of a new month, and we have only one last monthly candlestick to close out the year 2024. Looking back, the explosive market in November saw BTC break the 100,000 barrier, while ETH also recovered from its weakness, approaching 3,700 and getting close to 4,000. The veteran altcoins XRP, DOGE, LTC, ADA, among others, experienced increases of different magnitudes. The long-awaited bullish market has already begun without us realizing, and although we are not in an alt season, some cryptocurrencies have shown strong and pleasant growth. In the crypto market, it is crucial to follow the market's rotation pace and prepare for an ambush in advance to be pioneers. On the contrary, in the vast ocean of cryptocurrencies, we will only be passing visitors. Let's join forces with Yibo to create a glorious end to December together!
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BTC continued the weekend consolidation pace in yesterday's market. From a technical perspective, on the weekly chart, the market has experienced three bullish sessions after a wide previous consolidation, all with solid and bullish candlesticks. Then, the price of the coin fell after testing the 100,000 level, forming a bearish movement, but quickly regained ground after finding support, and the price remained above the upper band. At the same time, the MACD's golden cross on the daily chart showed a continuous increase, further confirming the structural strength. Therefore, the long term trend remains positive for the future. At the daily candlestick level, the Bollinger bands are narrowing upwards, and the price of the coin stopped above the middle band after a continuous fall in the past, showing solid support at the middle band. In the future, as long as it does not fall below the middle band, the trend will remain mainly positive. The current structure is very clear, with a general focus on long positions, and any market fall to 94,000-93,000 in the future will represent a long term opportunity.
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In terms of Ether, it is starting to recover and strengthen. On the weekly level, it closes with large and continuous candles, showing an equally strong structure, with a taste of continuation, recovering the fall and stabilizing above the minimum of 3531, completely recovering the pullback from the previous day and closing above the high of 3700 in the daily candlestick, with a bullish candle closing high and breaking recent highs again. The swing is tentatively testing the upside again, today's weekly close does not rule out a method of exploration and repeated pullbacks, overall, in terms of structure, the 4-hour chart continues in a bullish trend, but the market data provided show a method of advance and pullback, where each attempt to rise is accompanied by a pullback, the previous rise with an upper shadow was recovered the next day, without sustained pullbacks, the critical short-term point is 3530, it is also the turning point of the ceiling and floor, the bullish trend does not change above this level, of course, there will also be repeated swings, it is a one step forward, one step back oscillation method. Furthermore, the fluctuation has widened, further testing entry points. In terms of operation, after stabilizing following the pullback, opt for long positions again, the first support level is near 3650, combined with the hourly formation for planning at the close.

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