Xiang Li: December 7 Morning BTC & ETH Operations and Analysis

During the early morning hours, there was a unilateral downward trend. After being pressured at the 90,000 level, BTC moved south all the way down, reaching a low of 88,870, then rebounded slightly and is currently correcting around 89,300. Compared to BTC, ETH's pullback was much milder. After being pressured at 3,055, it gradually dropped more than 30 points, rebounded at 3,023, and is currently hovering around 3,040.

From the daily chart perspective, the short-term downward trend will continue. Looking closely at the 4-hour chart, BTC is steadily running within the lower channel of the Bollinger Bands, and all three Bollinger Bands are moving downward in sync with a wide opening, which lays the foundation for BTC's further decline. In the MACD indicator, both lines have moved from the strong region below the zero axis into the weak region, with an increase in selling momentum, indicating that the current market is now dominated by bearish sentiment. Meanwhile, both KDJ and RSI indicators are in the weak region, showing market sentiment is pessimistic and selling pressure continues.

When all indicators clearly favor the bears, we should go with the trend and stick to bearish strategies, focusing on shorting during rebounds in morning trading!

BTC can be shorted in the 89,000-89,500 range, with a target around 88,000.
ETH can be shorted in the 3,030-3,050 range, with a target around 2,980.
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