Xiang Li: Analysis and Trading of BTC and ETH on December 16 Morning

From the four-hour chart perspective: The ETH has already fallen well below the EMA7 and EMA30 moving averages, with a gap of nearly 2000 points between the two lines. The multiple resistance levels above add layers of difficulty, posing a significant challenge for the bulls to rebound, indicating a weak signal of a bearish trend with a strong head and shoulders pattern! Similarly, in the MACD indicator, the two lines are also operating below the zero axis in a weak zone, with selling momentum still waning, and the momentum bars are continuing to increase. More critically, the trading volume in the previous three rounds was vastly different; the bullish momentum is far below the bearish momentum, with nearly three times the volume difference. This also indirectly indicates that the market is currently extremely weak, and observers dare not enter the market to buy!
Given the clear bearish signals, the recommended morning operation is to directly chase the rebound or sell on rallies!
BTC can be bought within the 86000–86500 range, with target levels around 84500–83500–82200.
ETH can be bought within the 2950–2980 range, with target levels around 2900–2820–2750.
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