Xiang Li: December 18th, early morning Bitcoin and altcoin trading analysis

The market trend during the early morning hours is approaching the end, and so far, the overall trend shows a unilateral downward movement. With Brother Qie’s clear trend, the last two orange dots were laid out in the early morning, with Bitcoin gaining over 1710 points of space, and the same for altcoins, which also gained over 62 points.
From the four-hour chart, both the Bollinger Bands and MACD indicators indicate that the current market is in a weak state, with the bulls holding absolute dominance. In the short term, Brother Qie may continue to decline; looking closely at the hourly chart, it is worth noting that the KDJ indicator is gradually forming an upward turn in the oversold area. Although it is still in a weak zone, after extreme downward movement, a rebound is expected. Whether it is a technical correction or a genuine counterattack driven by momentum, we need to remain vigilant about Brother Qie’s performance.
Overall, the main trend remains bearish. Considering the actual situation and the approaching end of the early morning session, it is still recommended to follow the trend and trade accordingly, mainly buying on dips.
Bitcoin can be bought within the range of 86200–86700, with a target around 85200.
Altcoins can be bought within the range of 2820–2850, with a target around 2800.