Xiaoyao KOL: Bitcoin and Ethereum Evening Market Analysis 12.16



Recently, Bitcoin has shown a continuous downward trend on the daily chart, forming multiple large bearish candles, indicating strong selling pressure. On the 4-hour chart, the price is consolidating with slight rebounds at lower levels, but overall it remains in a downward channel, unable to break through previous resistance levels. The MACD remains below the zero line, with the histogram shortening but still negative, indicating weakening momentum but not yet turning bullish. The RSI is approaching oversold territory, suggesting a technical rebound may occur, but the strength is limited. The price is currently below the EMA7, EMA30, and EMA120 moving averages, which are arranged in a bearish alignment. Tonight, it is recommended to buy on rebounds at higher levels.

Operational suggestion: Buy around 86,800 to 87,300 for Bitcoin, with a target near 85,000; buy around 2,940 to 2,980 for Ethereum, with a target near 2,850. Market conditions are constantly changing. The article is time-sensitive. Traders entering the market should follow real-time guidance.
BTC3.23%
ETH6.46%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)