Bitcoin and Ethereum Market Analysis (December 24)

Bitcoin Technical Analysis — Bitcoin's rebound has been limited, with the previously mentioned long positions only moving within a range of about $1000. On the daily chart, the previous candlestick closed bearish, briefly breaking below the 7-day moving average. Intraday opening failed to stabilize above the 7-day moving average, continuing its downward test. The Bollinger Bands are flat, with short-term moving averages hovering around the middle band. The MACD fast and slow lines are flattening, with decreasing volume. The KDJ indicator is again facing resistance and turning downwards, while the VR indicator is consolidating around 80. On the 4-hour chart, after encountering resistance around the middle band, the price oscillated downwards, pressured by the 7-day and 60-day moving averages. The Bollinger Bands are widening, with short-term moving averages trending downwards. The MACD fast and slow lines crossed downwards, breaking below the zero line with decreasing volume. The KDJ indicator is again trending downwards, with support around the zero line. The VR indicator is consolidating around 80. Overall, the price has broken below the daily 7-day moving average support, temporarily returning to a weak, range-bound structure. The short-term strategy remains to sell on rallies. The upside target remains the 4-hour Bollinger Band middle band resistance, while support is seen around the daily lower band, which is also the previous low. If this level is broken, the next support level to watch is around 83000. Note that the current slow decline has a chance of triggering a sharp drop to the bottom. For short-term entry, refer to support and resistance levels. See short-term recommendations. Bitcoin short-term recommendations: Buy at 85300 (or 83500), sell at 88100 (manage profits as needed after strategy activation).