December 16th Early Morning Bitcoin and Ethereum Trading Suggestions and Directions

Market changes are like the movement of heaven and earth, following their own internal logic. One cannot lose the initiative at the starting point due to emotional imbalance. It's like setting sail in the fog—without clear direction, one will deviate from the right track. Even with wisdom, it’s difficult to grasp the initiative amid the torrent of the market. Looking back at Monday’s market, Bitcoin (Big Pie) dipped from around 89,300 in the early morning to around 87,500 by evening, then traded within the range of 89,000 to 89,900 throughout the white session. In the evening, it began a strong correction, fluctuating around 86,100. Overall, the market declined sharply. Bitcoin faced pressure near 89,900 and plunged, oscillating downward to a low of 86,000 at midnight. Ethereum (Second Pie) followed Bitcoin’s weakness, with its price continuously falling from around 3,177 to a low of 2,977. In the evening, Lao Zhao provided a low-buying strategy, which unfortunately resulted in some losses, but this short position was also sharply held. Throughout the day, Bitcoin gained over 2,656 points of space, and Ethereum gained over 129 points. Although the day’s results were somewhat unsatisfactory, overall, the gains were good.
From the current market situation, key support levels have been broken, and the downward space is fully open. Market momentum has been released. Currently, the price is trading below the lower band of the Bollinger Bands, with the middle band forming a short-term resistance. Indicator signals: RSI6 is in the downward zone, indicating a short-term correction is needed. The MACD shows that bearish momentum still dominates. The Bollinger Bands are opening downward, with the K-line running along the lower band and continuously probing support with downward needles. The short-term pattern is weak, with the Bollinger Bands expanding, indicating the market is entering a phase of pullback and consolidation. Short-term volatility is increasing, likely resulting in oscillations and a back-and-forth tug-of-war. Although the MACD green energy bars have slightly decreased, there is no clear sign of a bottoming out yet. The overall bearish trend still dominates.
Early morning, Bitcoin around 87,000 can be considered for a short position, watch for 85,500.
Ethereum around 3,010 can be considered for a short position, watch for 2,930.