12.12 Bitcoin/Ethereum: Key support levels at 8900 and 3150 held; short-term price action is likely to be range-bound.
Last night's short positions successfully tested the BTC 89200 and ETH 3140 levels before rebounding, aligning with our previous expectation of a "consolidation and rebound after effective support." From the current structure, the larger-scale trend remains intact, but short-term bullish and bearish forces are fluctuating, and the market is gradually shifting from the sharp rises and falls of the past two days into a more range-bound pattern.
🟡 Bitcoin (BTC) Technical Analysis
🔹 Candlestick Structure
- After a significant initial rise, the price encountered resistance and fell back, entering a sideways consolidation range.
- Currently, the candlestick is showing a small green candle, indicating a temporary balance between bullish and bearish forces.
🔹Indicator Structure
- The 4-hour DIF and DEA lines continue to decline , and the MACD histogram is negative, indicating that short-term momentum is weakening.
- Overall, the price remains above the zero line, and the medium-term trend remains bullish.
- Trading volume has shrunk significantly → the market has entered a wait-and-see period.
🔹Key Positions
- Resistance levels: 92500-93000
- Support levels below: 91000 → 89500
🔵 Ethereum (ETH) Technical Analysis
🔹 Candlestick Structure
- The price rebounded after testing the effective support level of 3140 last night.
- It is currently still in a consolidation phase and has not broken through key support levels.
🔹Indicator Structure
- The 4-hour MACD remains weak, with bearish momentum, but it has not yet entered a phase of high-volume decline.
- The market structure is similar to that of BTC, mainly characterized by fluctuations.
🔹Key Positions
- Resistance levels: 3250-3270
- Support levels below: 3200 → 3160
📌 Midday Trading Suggestions (Written at 15:00)
BTC Bitcoin
🔻 Short around 92500-93000 🎯 Target: 91000 → 89500
ETH Ethereum
🔻 Short around 3250-3270 🎯 Target: 3200 → 3160
⚠️ Market conditions change constantly, and there may be a delay in the publication of this article. Please refer to real-time guidance for specific operations. Our daily strategies have a proven win rate; please continue to follow us.
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