December 24th, Wednesday Morning BTC/ETH Silk Road Sharing
From the four-hour chart analysis, the Bollinger Bands continue to trend downwards, with prices operating within a downward channel. Multiple attempts to break through the middle band during the early morning failed, indicating strong resistance above. It is expected that the market may continue to decline further. Additionally, the MACD indicator has formed a death cross at a high level and remains below the zero line, with bearish momentum gradually strengthening, indicating an overall bearish trend.
Observing the hourly chart, prices have currently broken below the EMA7 moving average, and the RSI has formed a death cross above 50, suggesting that the downward momentum may accelerate in the short term.
Bitcoin 87700-88200 range for trading, target near 85400
Ethereum 2990-3010 range for trading, target near 2850
