Recently, the daily chart of Bitcoin has formed a quite powerful bullish candlestick, like a rallying call for the bulls to launch a small counterattack. In the short term, the initiative is in the hands of the bulls.

The daily strong rebound, the hourly oscillating upward (higher highs and higher lows), indicates that the bulls are in the lead. The hourly EMA7 has crossed above EMA30, showing a short-term bullish alignment, and the upward trend is clear. The overall moving averages on the daily chart still show a bearish arrangement, but signs of stabilization and strength are emerging.

The resistance at 90600 is a short-term dividing line between strength and weakness, while the support at 85000 is an important line of defense for a short-term correction.

Market sentiment is warming up, and a cautious optimism is appropriate in the short term, but attention should be paid to the breakthrough of the 90600 resistance level. It is expected that over the weekend, the price will oscillate within the 85000-90600 range, with a potential direction.

12.20 Bitcoin trading strategy:
Short at 90010-89010, stop loss above 91010, target 87510-86510
Long at 86510-87510, stop loss below 85510, target 88010-89010

12.20 Ethereum trading strategy:
Short at 3015-2975, stop loss above 3055, target 2890-2855
Long at 2855-2895, stop loss below 2815, target 2955-3005