On the morning of December 6th, suggestions and directions for Bitcoin and Ethereum operations
The intra-day trend has once again completed. Looking back at yesterday's trend of Bitcoin, in the early morning, Bitcoin fell from the high point of 93100 after being under pressure and dropped to a low point of 87976 at night, a decline of nearly 5200 points in the range. Currently, it is running at around 88839. Ethereum dropped from 3227 in the early morning to a low point of 2978 at night, showing a decline of about 220 points. It is currently running at around 2993, exhibiting a strong unilateral trend during the day. I have repeatedly reminded to follow the market direction. Old Zhao has also made a lot of profits in the orange market. Bitcoin's layout of 3 short positions has accumulated a space of over 4185 points, while Ethereum's layout has gained over 175 points.
From the current market perspective, on the 4-hour level, the ratio shows a continuous downward trend for three consecutive days, with the Bollinger Bands converging. The moving average and technical indicators are biased towards the sell side. MACD is above the zero axis, and DLF has crossed below DEA above the zero axis forming a death cross. The red volume continues to increase, and it is still in a downward trend. On the 1-hour level, the middle and lower bands are continuously trending down. The ratio has broken through the support of the lower band, and short-term bulls have intervened to pull back to correct the market, but the momentum is limited, and the stretch appears weak. From past experience, Saturdays are typically for correction, and it is highly likely to enter a narrow range of oscillation for correction. Therefore, the recovery of bulls may be delayed. Currently, the downward channel has been fully opened. Old Zhao suggested on Saturday morning to still go with the trend, focusing on rebound opportunities, and still optimistic about the continuation of the bulls.
Bitcoin can be traded around 89300 to 90000, with a focus on 87000.
Ethereum can be traded around 3020 to 3050, with a focus on 2920.
