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12.20 Bitcoin/Ethereum Trading Strategy and Market Analysis
Yesterday evening, Bitcoin/Ethereum again positioned short orders around 88300-88800 and 2970-2990. After a sharp rise, the market retraced to around 86800 and 2930, then rebounded again. The space for short positions is not very large. Currently, the market is rallying to high levels with sideways consolidation, and the overall trend has strengthened. Recently, the candlestick pattern shows significant upward movement, reaching as high as 3020 and around 89500 before pulling back. It is now in a consolidation phase. On the daily chart, long upper and lower shadows have formed recently, indicating fierce competition between bulls and bears.
On the technical indicators, in the 4-hour cycle, both DIF and DEA are negative, but the MACD histogram is gradually shrinking, indicating weakening downward momentum, which may lead to consolidation or a rebound phase.
Trading Suggestions: Buy near 87000-87500 for Bitcoin with targets around 89500-91000; buy near 2930-2950 for Ethereum with targets around 3030-3080.