12.23 Tuesday Morning Bitcoin Ethereum Analysis
After the ideas were provided in the early morning, the market moved as expected, with a wave of declines reaching a low near 87800 before finding support and rebounding, just hitting Old Wang's target price. Friends who followed the ideas in the live broadcast could have captured a space of over 2000 points in this wave.
According to the current market, on the 4-hour cycle, after experiencing a series of bearish candlesticks, bullish funds began to intervene and dominate the market for technical recovery. The Bollinger Bands show a narrowing and flattening pattern, indicating that the market has entered a phase of consolidation. The moving averages and technical indicators still lean bearish, and the bearish trend has not been effectively broken. On the 1-hour cycle, after five consecutive bearish candlesticks probing the bottom, a short-term rebound occurred, but the candlestick structure shows a 'two bullish engulfing one bearish' pattern, with bullish momentum clearly insufficient, and frequent upper shadows reflecting heavy selling pressure above. The Bollinger Bands have expanded, signaling that short-term volatility will increase. In the MACD indicator, the DIF has crossed below the DEA forming a death cross, with the fast and slow lines located above the zero axis but turning down, confirming that short-term bearish strength is strengthening. In conclusion, the current market is still in a bearish-dominated adjustment period; Old Wang suggests that the overall intraday strategy can still look to go long first and then short, entering short positions at strong resistance levels above.
Operation Suggestions:
Bitcoin 87500-88000 long, looking up to 90000
