Xiang Li: December 6 Early Morning BTC/ETH Operations and Analysis


From the hourly chart perspective, the current price has broken below the key support level at the lower Bollinger Band. With all three bands trending downward and the widening mouth pattern, this suggests that the decline will continue to accelerate. Meanwhile, the MACD indicator shows both lines continuing to move in the weak region, and with the ongoing increase in bearish momentum bars, it indicates strong and sufficient selling pressure, with overall market sentiment remaining sluggish. Furthermore, in the KDJ and RSI indicators, all three lines have chosen a bearish alignment and have entered the oversold area, with the market declining too quickly and short-term sentiment being extremely pessimistic. However, oversold conditions also suggest a possible technical rebound or corrective need. Looking closely at the 15-minute chart, KDJ and RSI have started to turn upward, indicating that a bullish counterattack may be starting.
In such an extremely fearful market environment, going long does seem difficult to understand, but with extreme oversold indicators, it’s also risky to go short at will. During the early morning session, the approach remains to go long on dips, but avoid blindly chasing highs, as the current market is highly unstable.
BTC can go long within the 88,000-88,500 range, with a target near 91,000.
ETH can go long within the 3,100-3,120 range, with a target near 3,200.
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ETH2.15%
BTC1.4%
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