Analyst Chen Shu: On December 16, Bitcoin and Ethereum prices fell again, testing 80,000 once more.
From the daily chart, Bitcoin has seen five consecutive daily losses, breaking through 90,000, with the target once again at the support level of 85,000. If it falls below 85,000, it will likely test the previous low support of 80,000 again. Looking at the hourly chart, the short-term has reached a low of 85,000, and the resistance level for any rebound should focus on the morning's rebound high point of 86,500. If the rebound breaks above 86,500 and stays there, the short-term will continue the rebound trend. It is recommended not to be overly bearish before fully breaking below 85,000.
From the daily chart, Ethereum has continuously closed with losses, breaking below the MA30 moving average support. The immediate support to focus on is the level of 2,900/2,800. The short-term is expected to have more room for correction. On the hourly level, it has fallen to a low point of 2,870. If it rebounds and breaks above 2,980, the short-term downtrend will pause and enter a rebound consolidation phase.
Afternoon operational thoughts (writing time: 13:10):
BTC: Current price 8.58 long, add long at 8.5, target 8.65/8.75; above 8.75/8.85 short for a 1-2000 point correction.
ETH: Current price 2,920 long, add long at 2,880 on pullback, target 2,980/3,020; above 3,020/3,060 short for a 6-100 point correction.
Daily analysis strategy has a high win rate! Analysis is not easy, hope everyone can give a free follow, collect, like, and comment. Thank you all, and feel free to leave a message below for discussion; I will reply one by one $BTC
