In the early morning, Bitcoin surged to 87,950 and Ethereum to 2,960. Afterward, the rebound momentum quickly weakened. The four-hour chart shows three consecutive bullish candles that failed to break through the middle band of the Bollinger Bands, confirming the resistance's effectiveness. Combined with the overall weak trading activity in the market over the weekend, the short-term rebound appears to be a trap for late buyers, providing an excellent entry point for bears. Maintain a bearish outlook and avoid chasing the rally.
Trading Suggestions: Bitcoin: Short positions in small amounts around 88,000, targeting 86,500 Ethereum: Short positions in small amounts around 2,960, targeting 2,850
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12.28 Sunday Morning Market Analysis
In the early morning, Bitcoin surged to 87,950 and Ethereum to 2,960. Afterward, the rebound momentum quickly weakened. The four-hour chart shows three consecutive bullish candles that failed to break through the middle band of the Bollinger Bands, confirming the resistance's effectiveness.
Combined with the overall weak trading activity in the market over the weekend, the short-term rebound appears to be a trap for late buyers, providing an excellent entry point for bears. Maintain a bearish outlook and avoid chasing the rally.
Trading Suggestions:
Bitcoin: Short positions in small amounts around 88,000, targeting 86,500
Ethereum: Short positions in small amounts around 2,960, targeting 2,850