BTC/Ethereum Afternoon Market Analysis (December 17)
I. Yesterday's Market Review
Last night's trading strategy was based on shorting at high levels :
- Bitcoin : Enter around 87200, with a low of around 86000.
- Ethereum : Enter around 2960, with a low of around 2880.
The overall downside potential is relatively limited, but the overall strategy and direction remain correct. The market is still in a weak, oscillating structure after a rebound that has faced resistance .
II. Technical Analysis
🔹 Bitcoin (Daily Chart)
- The recent pattern of long lower shadows and a fluctuating upward trend on the daily chart indicates that there is some support at lower levels.
- However, from an overall structural perspective, prices are still operating within a downtrend channel , and the rebound is more of a technical correction.
🔹 Bitcoin (4-hour timeframe)
- Candlestick pattern: After a rebound, the price gradually declined, indicating weakening rebound momentum.
- MACD :
- The bar chart shows the negative values shrinking and briefly turning positive.
- The DIF and DEA indicators are still running below the zero line, indicating that the bearish momentum is weakening, but a trend reversal has not yet been completed.
- RSI : In the neutral to weak range, there is a short-term rebound potential.
- Moving average system :
- EMA7 has been broken
- The EMA30 and EMA120 are significantly higher than the current price 👉 The moving averages are providing significant resistance, and the overall trend remains downward.
Conclusion : The rebound is a weak one, and the trend has not yet been reversed.
III. Afternoon Trading Strategy
Given the current lack of volume during the rebound and the unchanged trend , intraday trading should still focus on shorting at higher levels during the rebound .
🔸 Bitcoin (BTC / BTC)
- Entry range : 87500 – 88000
- Target location : around 85500
- Logical explanation : With dense resistance from the moving averages above, the rebound is unlikely to continue. The strategy remains to focus on shorting at the high point of the range.
🔸 Ethereum ( ETH)
- Entry range : 2960 – 3000
- Target location : around 2860
- Logical explanation : The price movement is correlated with Bitcoin, the rebound is facing significant pressure, and insufficient trading volume supports further upward movement.
IV. Market Trends
- The current market structure remains volatile with a slight downward bias ; any rebound does not necessarily indicate a trend reversal.
- If the price breaks through the key resistance level, the strategy needs to be adjusted promptly.
- Market conditions are constantly changing, and this article is time-sensitive. Please refer to real-time market guidance for guidance on following or using this information.
