12.21 Sunday Morning Bitcoin and Ethereum Analysis
From last night to now, both Bitcoin and Ethereum have experienced limited volatility, showing a narrow range of fluctuations without any significant breakthroughs. Specifically, Bitcoin is consolidating between 88,000 and 88,500, while Ethereum is trading steadily between 2,970 and 2,985.
On the 1-hour chart, after a rebound correction, prices have fallen back to lower levels, failing to break through the resistance of the previous high of the step, indicating a continued weak market pattern. This rebound is only a technical correction and not a market reversal signal. The key resistance level is near the upper band of the Bollinger Bands at 88,800, which suggests a short-term short position.
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12.21 Sunday Morning Bitcoin and Ethereum Analysis
From last night to now, both Bitcoin and Ethereum have experienced limited volatility, showing a narrow range of fluctuations without any significant breakthroughs. Specifically, Bitcoin is consolidating between 88,000 and 88,500, while Ethereum is trading steadily between 2,970 and 2,985.
On the 1-hour chart, after a rebound correction, prices have fallen back to lower levels, failing to break through the resistance of the previous high of the step, indicating a continued weak market pattern. This rebound is only a technical correction and not a market reversal signal. The key resistance level is near the upper band of the Bollinger Bands at 88,800, which suggests a short-term short position.
Bitcoin recommendation: 885,000-887,000 Target: 87,500
Ethereum recommendation: 2,990-3,010 Target: 2,880
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