Yueying: Bitcoin and Ethereum Market Analysis (December 2nd): Rebound is an Opportunity, New Lows Are Imminent

Bitcoin's daily chart shows a sharp drop of over $6,000 yesterday. The previous candlestick closed as a bearish candle with a lower shadow, followed by a slight rebound. The price has been consolidating since the start of the day. The Bollinger Bands are narrowing, and short-term moving averages are turning downwards. The MACD fast and slow lines are crossing upwards but showing signs of turning downwards, with decreasing volume. The KDJ indicator is crossing downwards, and the VR indicator is consolidating around 40. On the 4-hour chart, after breaking below the lower Bollinger Band, the price rebounded with consecutive positive candles and climbed back above the 7-day moving average. The Bollinger Bands are narrowing, and short-term moving averages are trending downwards. The MACD fast and slow lines have broken below the zero line but show signs of turning upwards, with decreasing volume. The KDJ indicator is crossing upwards, and the VR indicator is consolidating around 90. Overall, although the price has rebounded somewhat, it remains in a downtrend. The short-term strategy remains unchanged: continue to sell on rallies. Short-term support is around 85,000. If this level is broken, watch the previous low. See the short-term recommendations below. Bitcoin Short-Term Recommendation: Short at the current price of 87,000 (Take profits as needed after strategy activation). The previous short entry point on Ethereum was off by about ten dollars, but the overall direction was correct. The price rebounded from support above 2700 and is currently testing short-term resistance. The daily and 4-hour technical charts are consistent with Bitcoin's analysis. Short-term support is around 2730; a break below this level will likely lead to a test of the 2650 area. The intraday short-term outlook remains bearish. See the short-term recommendation. Ethereum Short-Term Recommendation: Short at the current price of 2805 (Click the image to see the homepage introduction for more coin 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!