#BTC 12.2 Morning Analysis

The Bitcoin is at the four-hour level, but is still in a downward channel, with bears dominating the market. The short-term moving averages are in a bearish arrangement, and the middle line of the Bollinger Bands is moving down, confirming a weak consolidation after a decline, which is not a reversal signal.

The Bollinger Bands are converging and consolidating on the 1-hour level, with the K-line gradually rebounding off the lower band, but encountering resistance at a key resistance level, limiting the upward space. The MACD shows a golden cross at a low level, but the slope is gentle and the momentum is insufficient, indicating only a technical adjustment in a bearish market.

Overall, the market's bearish trend remains unchanged. Nan Yu suggests focusing on shorting during rebounds in the morning and not to blindly chase long positions.
BTC suggestion: short in the range of 87500 to 86500, targets: 85500, 84500, 83500
Ethereum suggestion: Short in the range of 2850 to 2800, targets: 2750, 2700, 2650

BTC0.15%

ETH-1.29%

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