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December 16th, Tuesday Bitcoin and Ethereum Market Analysis
The market is currently in a brief consolidation phase, with an overall trend showing signs of building momentum. From the four-hour chart, the market is at a critical point of the battle between bulls and bears at the bottom. Although the downward trend has not yet reversed, the Bollinger Bands' three lines continue to expand downward, indicating that the bearish force is steadily strengthening.
The hourly chart shows the market hovering near the middle band of the Bollinger Bands, and the tight formation of the three lines suggests that an explosive move may be imminent.
The evening trading strategy remains unchanged, still recommending a rebound shorting approach.
Bitcoin recommendation: 87400-87700 Target: 85900.
Ethereum recommendation: 2990-3000 Target: 2800.
#BTC #ETH #BNB