Xiang Li: December 6th Morning BTC & ETH Operations and Analysis
From the hourly chart, BTC is running closely along the short-term moving averages, with both MAs trending downward simultaneously, indicating that BTC will likely continue to decline with the average price. Although the MACD indicator shows the two lines converging towards a golden cross below the zero axis in a weak zone, buying momentum has not yet entered the market so far, so we can hold off on acting on the current golden cross for now.
Before any clear signals emerge, we should continue to short on rallies as our main strategy. During the morning session, focus on whether BTC’s 88,700 support can effectively hold; if it breaks, BTC will continue to test the key 88,000 level. Similarly, for ETH, pay special attention to whether the 3,000 support can withstand the selling pressure; if it breaks, ETH will continue to test the critical 2,980 level. In terms of trading volume, the market is indeed quite weak, and it’s highly likely that the morning session will continue to consolidate sideways.
BTC can be shorted in the 89,000-89,500 range, targeting around 88,000. ETH can be shorted in the 3,020-3,040 range, targeting around 2,980.
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Xiang Li: December 6th Morning BTC & ETH Operations and Analysis
From the hourly chart, BTC is running closely along the short-term moving averages, with both MAs trending downward simultaneously, indicating that BTC will likely continue to decline with the average price. Although the MACD indicator shows the two lines converging towards a golden cross below the zero axis in a weak zone, buying momentum has not yet entered the market so far, so we can hold off on acting on the current golden cross for now.
Before any clear signals emerge, we should continue to short on rallies as our main strategy. During the morning session, focus on whether BTC’s 88,700 support can effectively hold; if it breaks, BTC will continue to test the key 88,000 level. Similarly, for ETH, pay special attention to whether the 3,000 support can withstand the selling pressure; if it breaks, ETH will continue to test the critical 2,980 level. In terms of trading volume, the market is indeed quite weak, and it’s highly likely that the morning session will continue to consolidate sideways.
BTC can be shorted in the 89,000-89,500 range, targeting around 88,000.
ETH can be shorted in the 3,020-3,040 range, targeting around 2,980.
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