Xiang Li: December 6 Evening BTC and ETH Operations and Analysis

The entire market was not very active during the afternoon session, with light trading and the trend in a sideways consolidation phase. BTC and ETH mainly fluctuated around the 89500 and 3030 lines, respectively.

From the four-hour chart: BTC is running in a downward channel below both moving averages. The EMA7 and EMA30 lines are both trending downward synchronously and are about to form a death cross, which lays the foundation for BTC to accelerate its decline. In the MACD indicator, the two lines have also formed a bearish cross in the strong zone above the zero axis, and have broken below the zero axis into the weak zone. With the continued increase in the red momentum bars representing bearish momentum, this shows that selling pressure is accelerating into the market, and the entire market is dominated by bears. Meanwhile, the KDJ and RSI indicators are also showing all three lines in the weak region, further confirming strong bearish momentum and a lack of bullish strength.

Overall, the structure presents a clear bearish trend. In the short term, BTC is more likely to continue downward or fluctuate weakly. It is recommended to follow the trend and focus on going short during market rebounds in the evening.

BTC can be shorted in the 89000-89500 range, with a target near 88000.
ETH can be shorted in the 3020-3040 range, with a target near 2980.
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