Yueying: Bitcoin and Ethereum Market Analysis for December 9th - Current Price Recommendation: Take Profits; Short-Term Trading Remains Range-Bound.
The previous long/short strategy for Bitcoin resulted in a range of over 3000 dollars, and the current short position has been closed as expected. Looking at the daily chart, the previous candlestick closed as a doji, and the price opened today in a consolidation around the middle Bollinger Band. The Bollinger Bands are narrowing, and short-term moving averages are hovering around the middle band. The MACD fast and slow lines are trending upwards with decreasing volume, and the KDJ is turning downwards, so caution is advised against another downward move. The VR indicator is consolidating around the 50 value. On the 4-hour chart, the price is consolidating around the middle Bollinger Band, with the Bollinger Bands flattening and the short-term moving averages hovering around the middle band. The MACD fast and slow lines are turning downwards with decreasing volume, the KDJ is trending downwards, and the VR indicator is consolidating around the 80 value. Overall, the price is expected to continue its range-bound consolidation, with resistance shifting downwards. Watch the previous high area, and support is seen above the lower Bollinger Band on the 4-hour chart. Short-term trading should focus on range-bound strategies, buying low and selling high. See the short-term recommendations. Bitcoin short-term trading suggestions: Short at 90850, Long at 89000 (Take profits as needed after strategy activation). The short position on Ethereum mentioned above also materialized. The trading range is smaller than Bitcoin's, and it continues to face resistance on the daily and 4-hour charts. Continue to short at resistance zones in the short term. Technical analysis is linked to Bitcoin, and short-term trading should be treated as range-bound. Support levels remain as mentioned above. The structure and strategy remain unchanged; see the short-term suggestions. Ethereum short-term suggestions: Short at 3135, Long at 3035 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!