《12.16 Market Analysis: Where is the Bullish Faith, and How Does the Daily Line Pattern Support the Upsurge》

It's been a tough fall, a tough fall. The anticipated rise this week seems to have changed, leading to a new expected trend: if we still want to be bullish here, what kind of movement does the daily line need to show to support it, and which positions are relatively critical? If we can't return to a certain position, when will the trend start to decline?

$BTC First on the daily line, the several support levels below the Bitcoin are at 83500 and 82200. If the daily line ends with consecutive bearish candles in the next couple of days, then the two positions above will no longer be the final bottom. There might be a deeper drop to form a W bottom or a head-and-shoulders bottom on the daily line.

In the short term, to see a good upward trend, signs of support and resistance exchange must appear above the 88000 level to look back at the pressure point of 90900.

$SOL For the altcoin to go up in the short term, we also need to see if it can hold around 131. At least on the hourly level, it needs to stay horizontal around 131 to see signs of support and resistance exchange. After that, we will look at the pressure at 140. The support levels below are at 119 and 117.

$ETH For Ethereum to go up in the short term, we are still looking at the pressure at 3100, with support levels below at 2824-2796 and at 2715. In fact, it depends on whether it can complete the oscillation within this range. 2715 is the support level at the lower boundary of the range.

In summary, given the current situation, if we insist on being bullish, the several support levels above must be tested and returned to 88000, and most importantly, Bitcoin cannot have consecutive bearish daily candles in the next couple of days; otherwise, there will be another drop before it stops. At the same time, the position of 88000 must be reclaimed to pursue bullishness on the right side; otherwise, we can only wait for the above support levels to make further bullish moves.

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