Xiang Li: December 8 Midday BTC & ETH Operations and Analysis

From the four-hour chart perspective, the downward channel for BTC remains quite intact, providing favorable conditions for further downside. At the same time, the MACD indicator’s double lines are still in the weak zone, and with the weak pattern not having fully reversed, the J line has already entered the overbought zone, indicating the short-lived upward momentum has come to an end and BTC is about to head downward. Looking at the hourly chart, there is a severe divergence in volume, which suggests that the morning’s BTC rise was not a substantial rebound. The market’s extremely pessimistic sentiment has caused a large amount of buying power to stay on the sidelines.

Any rise without trading volume is just a paper tiger. During the midday session, continue to stick to shorting on rallies!

BTC can be shorted in the 91000-91500 range, with a target near 89000.
ETH can be shorted in the 3120-3150 range, with a target near 3030.
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