December 17 Wednesday midday market analysis.

First, confirm from the daily and weekly charts that Bitcoin and Ethereum are still in a short-term bearish trend. Currently, the market price has broken below the key support level of 3000 on the daily chart. If this level is broken, it will continue to move in a C wave. Although it has reached around 2880, it is still a bit away from the precise target of 2800-2770. Based on the current trend, the price just stopped falling and retraced to the 4th wave position on the 4-hour chart. The market may enter a B2 rebound situation, so short-term resistance focuses on the 1-hour head and shoulders neckline, which is also near the A wave position of 3020-3050 on the 4-hour chart. If this area can be broken this week, the overall trend cannot be reversed, but there is a chance to continue upward breakthrough.
BTC trading suggestion: Short around 87,800-88,500, stop loss at 89,300, take profit around 86,500-86,000, break below to watch 85,300.
ETH trading suggestion: Short on rebound near 2,970-3,020, stop loss above 3,050, take profit around 2,880-2,910, break below to watch 2,800.