12.23 Bitcoin and Ethereum Trend Analysis and Trading Strategy
From a technical perspective, both have shown a breakout and a drop below the middle Bollinger band on the 1-hour K-line. The ETH Bollinger band even shows a signal opening downwards, with the price briefly breaking through the lower band and then rebounding slightly. This combination of "capital outflow + technical breakdown" indicates a shift in the short-term market from being bullish to being dominated by bears, and ETH's decline is greater than BTC's, reflecting the weakness characteristic of second-tier tokens among mainstream currencies.
Bitcoin's hourly chart surged to 90599 before quickly retreating, with the price breaking below the BOLL middle band and running near the lower band. The moving average system shows a bearish arrangement, with a net outflow of 236 million, indicating a clear sign of capital leaving the market.
Ethereum surged to 3077 before the drop was greater than Bitcoin's, with the price approaching the BOLL lower band, a net outflow of 79.53 million, stronger bearish momentum, and breaking below the short-term upward trend line.
Bitcoin and Ethereum Trading Strategy:
For Bitcoin, short at the 88000-88600 range on rebounds, targeting down to 86800, and if broken, look towards around 86000.
For Ethereum, short at the 2980-3000 range on rebounds, targeting down to 2945, and if broken, look towards around 2900.
