12.28

Good afternoon everyone, I am a trader who dies with one hit.
Let's do a simple review of the recent week's trend. After Bitcoin surged to 90,500 on Monday, it was continuously suppressed. The candlestick chart formed a consolidation zone around the one-hour EMA lines. Overall, it oscillated around the 87,800 center, and the upper and lower ranges are within the previous range. The upper one-hour EMA120 and EMA144 are around 87,800, while the one-hour EMA7 and EMA30 are around 87,500.
Looking at the four-hour chart, Bitcoin's EMA120 and EMA144 are around 88,800, and the moving averages are still trending downward. This level has been tested multiple times as resistance. The four-hour EMA7 and EMA30 are between 87,500 and 87,800. Today’s white session was very narrow in consolidation, with a range of no more than 600 points. Such a trend is very likely to break direction from the end of the month to the beginning of the next.
Currently, the one-hour Bollinger Bands have contracted, making it difficult for the middle band to provide support. The KDJ indicator has already formed a death cross, and the four-hour MACD is dominated by a bearish trend. Meanwhile, the one-hour bullish momentum is waning, and the fifteen-minute chart has issued an early warning. Everything points to the bullish buying momentum weakening.
Due to multiple pressures this month, bears are currently dominant. However, the pattern and structure lack the energy for a strong move. The market is not ready for a rally at this moment. In the short term, forex and precious metals are attracting large capital flows. At this position, the market will only trigger a decline to attract support forces. Therefore, the most likely scenario is consolidation around 87,500 with a downward trend. A rebound from 86,800 is very likely to be liquidated.
So, we can consider entering short positions around 87,800, with the replenishment zone between 88,450 and 88,750, and a stop loss at 89,450.
First target is 85,800; if broken, then 83,800.
Below, conservative traders can consider entering in the second zone, but the market may find it difficult to give such opportunities.
Ethereum’s trend is entirely led by Bitcoin. The intraday amplitude is extremely narrow, with a range of only about twenty points.
We can fully follow Bitcoin’s movement. Currently, at 2,930, short positions can be opened, with additional entries at 2,968, and a stop at 2,972. Due to the very narrow consolidation, watch the 2,880 level first.
Bitcoin’s short-term consolidation can oscillate between 86,500 and 87,500, mainly short positions, cautiously catching rebounds. Ethereum has seen multiple buy-ins around 2,900 to support the market, but the trend is not strong. If it breaks below, it could quickly drop to around 2,860 during oscillations, so be cautious about rebounds.