December 19 Morning Bitcoin and Ethereum Trading Analysis

Yesterday's strategy mentioned Bitcoin and Ethereum targets of 85,000 and 2,780, respectively, which arrived as expected during the early hours, both reaching intra-day lows of 84,408 and 2,772. Currently, Bitcoin is consolidating around 85,500, while Ethereum is stabilizing near 2,830. Is this a bottoming rebound or a continuation of the decline?
From the four-hour chart perspective: The current clear downtrend with three parallel lines moving downward indicates that the market remains within a downward channel. The "Jiao" pattern remains intact, suggesting a high probability of further decline; meanwhile, the MACD indicator shows the two lines moving sideways below the zero line in a weak zone, with bullish momentum still strong, intensifying market pessimism; the KDJ indicator is currently in the weak zone between 20-50, showing a potential for a bullish crossover. If a crossover occurs, the "Jiao" will likely continue upward; similarly, on the hourly chart, the KDJ shows a bullish crossover with three lines diverging upward, aligning with the current "Jiao" trend. However, trading volume has not increased with the price rise but has diverged, indicating that any upward movement without volume support is ineffective.
Overall: The overall trend remains bearish, with strong bullish momentum, and a short-term bottoming rebound is possible. For midday trading, consider short-term long positions, and wait for clear downside signals before re-entering on dips!
Bitcoin can be traded within the 86,500–87,000 range, with a short-term target of 88,000—if a strong breakout occurs, then look toward 89,000.
Ethereum can be traded within the 2,870–2,900 range, with a short-term target of 2,950—if a strong breakout occurs, then look toward 3,000.
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