Xiang Li: December 17th Morning Bitcoin and Altcoin Trading Analysis

During the early hours, market sentiment was relatively mild, with overall trading activity subdued, mainly consolidating sideways. Bitcoin mainly hovered around 87,500, while Altcoins fluctuated around 2,950.
From the four-hour chart, it appears that the current trend is stable within a downward channel. The recent rally has pushed the price close to the midline resistance, and the three-line divergence remains intact, indicating that the overall trend is still under control of the bearish momentum. However, the MACD indicator shows a bullish crossover below the zero line, suggesting that selling momentum has fully exhausted and buying green momentum bars are emerging, signaling a positive shift in market sentiment. On the hourly chart, both the KDJ and RSI indicators are in strong zones, indicating that the upward momentum is likely to continue. In the short term, Bitcoin is expected to keep rising and potentially reverse the current weak trend.
All indicators are signaling clearly. As long as trading volume can sustain, upward movement is highly likely. For morning trading, follow the trend, buy on dips!
Bitcoin can be bought within the 87,000–87,500 range, with a target around 88,500.
Altcoins can be bought within the 2,920–2,950 range, with a target around 3,020.
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