12.27 Friday BTC and ETH Market Analysis and Trading Suggestions

#BTC : Downward pressure not relieved, can continue to set short positions near 96500

In yesterday's morning session, the BTC trend showed a 'high surge and then a drop' pattern. The high short strategy laid out around 99850 successfully captured the pullback market.

From a technical perspective, after the daily K-line impacted the important psychological resistance level of 100,000, it quickly fell back. The appearance of a long upper shadow yesterday indicated that the pressure for short covering has intensified. Meanwhile, the price is stably operating below the lower band of the daily Bollinger Bands, indicating that the bears still dominate.

The 4-hour chart shows that the previous double top pattern for BTC is significant, accompanied by an adjustment trend. Although the bulls are attempting to support the market, the market sentiment is bearish, and the technical pressure from the double top pattern has significantly increased the selling pressure above. It is expected that if the price tests a high point in the short term, it may still encounter large-scale selling pressure.

Trading Suggestions:

- It is recommended to gradually set short positions in the range of 96300-96800.

- Target price: First target 95000, further looking at 93000.

#ETH : Weak follow-through, focusing on short positions in the 3360-3390 range

ETH also continues to show weakness, struggling to strengthen independently under the overall bearish market sentiment. Although the bulls have some support, both the technical pattern and market trend point to a bearish advantage.

Trading Suggestions:

- Short positions can be set in the range of 3360-3390.

- Target price: 3300.

Risk Warning

The current market is highly volatile, and it is necessary to closely monitor key support and resistance levels, manage positions well, and set stop-loss orders.