Xiang Li: Analysis and Operation of Bitcoin and Altcoin on the Evening of December 16

The market trend during the afternoon was mainly characterized by narrow-range oscillations and a unilateral upward movement. After bottoming out at 85226, Bitcoin continued to rise, reaching a high of 87299, then slightly retraced, currently hovering around 87100. Altcoin closely followed Bitcoin's pace, starting from 2870, trending northward, reaching a high of 2962 before pulling back to around 2950 for consolidation.
On the four-hour chart, Brother Qie remains within the downtrend channel, running close to the lower boundary. The three downward trend lines continue to form an open mouth pattern, indicating that the current market is dominated by the bearish side, and the possibility of Brother Qie accelerating downward has increased significantly. Meanwhile, the MACD indicator shows both lines steadily below the zero axis in a weak zone, probing deeper into negative territory, with selling pressure continuously increasing. This further confirms that the market sentiment is extremely bearish, with the bearish side firmly in control at low levels. Notably, on the hourly and 15-minute charts, the KDJ and RSI indicators show three lines diverging upward in a head-and-shoulders pattern, indicating strong short-term momentum. Currently, the market is in overbought territory, so caution is needed to avoid a retracement risk.
Overall, the main trend remains bearish, and it is advisable to operate cautiously during the evening session, preferably selling on rallies for safety. Bitcoin is hovering around the 87200 level, which was also emphasized in the afternoon when discussing the 3000 level of Altcoin. If a strong breakout occurs, strategies should be adjusted promptly.
Bitcoin can be traded within the range of 86700—87200, with targets sequentially at 85000—83700—82200.
Altcoin can be traded within the range of 2950—2980, with targets sequentially at 2900—2820—2750.