Analyst Chen Shu: On December 16th, the price of Bitcoin and Ethereum broke down again, retesting the 80,000 mark.

Analyst Chen Shu: On December 16th, Bitcoin and Ethereum prices broke down again, retesting the 80,000 level. Looking at the daily chart, Bitcoin has seen five consecutive days of decline, breaking below 90,000 and targeting the 85,000 support level. If this level is breached, it will likely retest the previous low of 80,000. On the 1-hour chart, the price has reached the 85,000 low again. The resistance level for any rebound is the morning's high of 86,500. If the rebound breaks and holds above 86,500, the short-term rebound will likely continue. It is advisable not to be overly bearish until the price fully breaks below 85,000. For Ethereum, the daily chart shows consecutive bearish candles, breaking below the 30-day moving average. The first support level to watch is 2900/2800. Further short-term pullback is expected. On the 1-hour chart, the price fell to a low of 2870. If the rebound closes above 2980, the short-term downtrend will temporarily ease, entering a consolidation phase. Midday Trading Strategy (Written at 13:10): BTC: Buy at the current price of 8.58, add to the long position at 8.5, target 8.65/8.75; Sell at 8.75/8.85 for a 1-2000 point pullback. ETH: Buy at the current price of 2920, add to the long position on a pullback to 2880, target 2980/3020; Sell at 3020/3060 for a 6-100 point pullback. Daily analysis strategies have a very high win rate! Analysis is not easy, so please give a free follow, save, like, and comment. Thank you! Welcome to leave comments below for discussion; I will reply to each one.