December 7th: Afternoon Trading Suggestions for Bitcoin (BTC) and Ethereum (ETH)
The market continued its weak structure in the afternoon, with the overall trend remaining bearish. Although there have been short-term rebounds after recent continuous declines, downward pressure still dominates across multiple timeframes. The following is the latest market analysis and trading advice.
[BTC Bitcoin Market Analysis]
Currently, multiple technical indicators for BTC are showing a bearish convergence , suggesting a continuation of the downward trend:
● Candlestick Patterns
- The recent appearance of the Evening Star reversal signal indicates that the upward momentum is waning and the bears are taking over the market.
● Moving Average System (MA/EMA)
- A death cross has occurred between short-term and medium-to-long-term moving averages;
- Prices are trading below all key moving averages;
- Multiple moving averages are arranged in a bearish pattern and slope downwards, indicating that the trend has not yet stabilized.
● Technical indicators
- BOLL : The bandwidth is normal and the three lines are stable, indicating that the short-term market is not extreme and there may be fluctuations or a weak rebound.
- RSI : It is in the neutral zone, and there is no oversold panic in sentiment, which is somewhat contradictory to the bearish signal, meaning that a technical correction may occur at any time in the short term.
● Key price focus
- Short-term target support: around 80600
- This level represents strong support for the current phase; a break below it could indicate a deeper correction.
In summary, although there may be some short-term fluctuations and a need for correction, the main trend remains bearish, and it is still recommended to short on selling on rallies in the afternoon.
[BTC Afternoon Trading Suggestions]
- Short positions are recommended in the 89700–90200 range , with a target of 88500–88000 .
[ETH Ethereum Market Analysis]
Ethereum's price movement is highly correlated with BTC, and it also maintains a weak downward trend.
The market continued its weak structure in the afternoon, with the overall trend remaining bearish. Although there have been short-term rebounds after recent continuous declines, downward pressure still dominates across multiple timeframes. The following is the latest market analysis and trading advice.
[BTC Bitcoin Market Analysis]
Currently, multiple technical indicators for BTC are showing a bearish convergence , suggesting a continuation of the downward trend:
● Candlestick Patterns
- The recent appearance of the Evening Star reversal signal indicates that the upward momentum is waning and the bears are taking over the market.
● Moving Average System (MA/EMA)
- A death cross has occurred between short-term and medium-to-long-term moving averages;
- Prices are trading below all key moving averages;
- Multiple moving averages are arranged in a bearish pattern and slope downwards, indicating that the trend has not yet stabilized.
● Technical indicators
- BOLL : The bandwidth is normal and the three lines are stable, indicating that the short-term market is not extreme and there may be fluctuations or a weak rebound.
- RSI : It is in the neutral zone, and there is no oversold panic in sentiment, which is somewhat contradictory to the bearish signal, meaning that a technical correction may occur at any time in the short term.
● Key price focus
- Short-term target support: around 80600
- This level represents strong support for the current phase; a break below it could indicate a deeper correction.
In summary, although there may be some short-term fluctuations and a need for correction, the main trend remains bearish, and it is still recommended to short on selling on rallies in the afternoon.
[BTC Afternoon Trading Suggestions]
- Short positions are recommended in the 89700–90200 range , with a target of 88500–88000 .
[ETH Ethereum Market Analysis]
Ethereum's price movement is highly correlated with BTC, maintaining a similarly weak downward trend.
Key technical structural points
- The candlestick pattern shows a typical bearish arrangement;
- After the moving average system death cross, it continued to suppress price rebounds;
- The RSI is neutral to weak, indicating potential for a rebound, but the strength of the rebound is limited.
- The overall trend remains in a downward channel, with no signs of a trend reversal.
The ETH rebound is mostly corrective; if it fails to break through the key resistance zone, a further decline is expected.
[ETH Afternoon Trading Recommendations]
- The primary target is the 3050–3070 level ; the target range is 2980–2950.
Risk Warning
The strategies presented in this article are time-sensitive, and volatility may intensify in the afternoon. Market conditions change rapidly; avoid over-leveraging, strictly adhere to stop-loss and take-profit orders , and avoid emotional trading.
#BTC#ETH
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