December 11 Afternoon Bitcoin and Ethereum Trading Suggestions and Strategy Directions


Based on the current market situation, early morning Bitcoin saw a slight rally to around 94,400 before facing resistance, then corrected downward to around 89,320 to stop the decline. The market did not develop as initially expected in the morning, but we had set a stop-loss point at 91,500. When the market broke below this line, our short-term long positions were regrettably stopped out. After the stop-loss, the market remained cautious and did not continue to initiate new positions.
From the current 4-hour chart, the market is in a low-level consolidation phase. The short-term resistance is around 92,600, and support is near the lower boundary at around 89,000. Currently, the price is trading near the 90,000 mark. In the short term, the market is dominated by bullish candles. From the Bollinger Bands perspective, the bands are expanding, with three moving averages continuing to level out, indicating a sideways trend in the short term. The MACD is above the zero line, turning downward, with red volume bars continuing to increase. The short-term trend is likely to continue sideways. On the 1-hour chart, multiple buy signals suggest a slight rebound, correcting the market. The candlestick bodies and upper and lower wicks are densely packed, indicating firm support below. There is still hope for a bottoming and rebound. Therefore, afternoon trading should focus on buying above support levels, with proper stop-loss placement.
Around 89,500 for Bitcoin, consider long positions; watch for resistance at 92,600.
Around 3,000 for Ethereum, consider long positions; watch for resistance at 3,300.
BTC2.31%
ETH1.21%
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