Ocean of Coins: 12.17 Cryptocurrency Market Bitcoin (BTC), Ethereum (ETH) Latest Market Analysis and Insights

Ocean of Coins: 12.17 Bitcoin (BTC) Market Analysis Reference:
Bitcoin has recently shown a clear downward trend, with a quick decline after breaking support in the short term, retracing to around 85,000 and hitting a two-week low. Although the price has slightly rebounded from lows, it has not effectively regained previous levels, and the rebound is limited. As of now, the price remains around $87,500 with narrow fluctuations, still within the recent downtrend channel and has not broken out of the weak zone.
From the daily chart perspective, after four consecutive bearish candles, the K-line turned bullish. The MACD lines below the zero axis are approaching convergence, with the green bars shortening simultaneously, indicating weakening bearish momentum and a potential reversal. However, the middle Bollinger band (90,000) has shifted from previous support to a strong resistance level, and the current retracement starting near $94,000 faces higher resistance. Given the current unvolume-driven rebound strength, short-term突破难度较大. Caution is advised for the risk of a second bottom test if the weak rebound lacks sustained momentum and dips back to previous lows.
From the short-term hourly chart, after forming a three consecutive bullish candles structure, the rebound momentum has weakened. The current price remains below the middle Bollinger band. However, the MACD histogram has turned positive, with DIF and DEA forming a golden cross below the zero axis. The KDJ three-line indicator continues upward, suggesting that after some consolidation, the short-term trend may continue to rise. If the price can break above and stabilize above the middle band, further upward movement is expected; otherwise, there is a risk of a pullback testing lower support levels. Therefore, it is advisable not to chase highs or sell lows excessively; waiting for low-position buy-in operations is more prudent.
Ocean of Coins: 12.17 Bitcoin Short-term Reference:
Long position: Buy in the 85,000-86,000 range, stop-loss at 84,000, target 87,000 - 88,000,
Short position: Short in the 88,500-89,500 range, stop-loss at 90,500, target 87,500 - 86,500,
Ocean of Coins: 12.17 Ethereum Short-term Reference:
Long position: Buy in the 2,850-2,880 range, stop-loss at 2,750, target 2,930-3,030,
Short position: Short in the 3,010-3,040 range, stop-loss at 3,120, target 2,950-2,850
Timeliness of article delivery may be delayed. Personal opinions are for reference only. Do not operate blindly! Hope everyone can stick to their principles regardless of market fluctuations, stay rational and calm. Seize opportunities, make precise decisions, and ride the waves in the ocean of investment to harvest wealth and growth!!!)#BTC