12.17 Morning Trading Suggestions

The market movements at midnight are fleeting, and the market has fallen back into sideways consolidation. Bitcoin is fluctuating around 87,500, while Ethereum is hovering around 2,940, neither providing a suitable trading range for action.

Currently, the market’s oscillation and correction have not yet concluded, and the trend direction is still being tested repeatedly. From the daily chart, the candlesticks are operating within the lower band of the Bollinger Bands, with the space gradually opening up. The lower band continues to exert downward pressure, probing for a bottom, and the bearish trend is becoming increasingly evident. Looking at the four-hour chart, all three Bollinger Bands are extending downward simultaneously, clearly indicating a bearish sentiment.

In the evening, when the price rebounds near the middle Bollinger Band, it quickly hits strong resistance and falls back sharply. The middle band has become a solid resistance line, and the short-term rebound momentum has been exhausted. The subsequent trading strategy is very clear: focus on the middle band as resistance and continue to short on rallies.

Trading Suggestions: Short Bitcoin near 88,000, targeting 86,500; short Ethereum near 2,980, targeting 2,900.