🍋December 17 market outlook.🍋
$BTC outlook:
The main coin has broken through 87783 with significant volume, closing above 87783 at the hourly level, continue to pursue long positions, and recover stop-losses.
87321 has broken down with significant volume; the rebound cannot recover, pursue short positions, and recover stop-losses, pay attention to changes in trading volume, and manage stop-losses well.
A pullback to 86533 creates a false breakdown; recover one more position, if the false breakdown's low point or break below 85605, set a stop-loss,
if it cannot recover, do not go long.
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The main coin has firmly broken through and stabilized above 88018, looking up to 88483-89212, only with a breakthrough of 88018 can the uptrend continue.
For shorting the main coin, be cautious of a false breakout at 89212, and short one position, with a stop-loss if it stabilizes above 90051.
Conservative players wait: long at 85000, stop-loss below 84102.
Although the main coin has broken through the bearish flag pattern, the closing price did not stay above the resistance level of 88188. If there is a pullback that falls back inside the flag pattern, as long as it does not break below the neck line at 86587, it will not undergo a deep correction. If it breaks below the neck line at 86587, it will return to test the previous low at 85073. To rise, it must break through 88188 to look upward to 88379-90036; otherwise, it serves no purpose.
This shows that in the case of a natural rebound after a drop, if it cannot break through the upper resistance level, it will definitely retest the lower support. If it can hold, it will consolidate; if it cannot hold, it will continue to fall.
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Upper pressure 88018-88483-89212
Lower support 87072-86587-85627
At the 4-hour level, breaking below 87186 looks down to 86565-85570.
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$ETH thoughts:
The second coin has broken through 2959 with significant volume; continue to pursue long positions, and recover stop-losses.
2935 has broken down with significant volume; pursue short positions, and manage stop-losses well.
A pullback to 2914 confirms the support is valid, add one more position,
break below 2884, set a stop-loss.
The second coin has stabilized above 2962 at the hourly level, looking up to 2994-3018.
Pay attention to the upper level at 3018 to short one position,
break above 3059, set a stop-loss.
Left side pin orders: long at 2852, break below 2812, set a stop-loss.
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Upper pressure 2962-2994-3018
Lower support 2915-2871-2836
At the 4-hour level, breaking below 2911 looks down to 2872-2824. The second coin maintaining within the range without falling is already good; breaking the range is necessary to see the position indicated by the right-side yellow arrow.
The lower boundary of the range at 2911 is the support for the second coin; breaking below goes down. Remember, once a trend is formed, it is hard to change easily. During the day, there are not many trading opportunities, meeting adjourned.
