12.22 Monday Midday Market Analysis

In the morning, the big pancake briefly surged and touched the high of 89600, but failed to hold and quickly retreated, dipping to around 87800. The entire process of the rise was not accompanied by a corresponding increase in trading volume, and the selling pressure was clearly released during the pullback, confirming that the bullish momentum has been exhausted, with heavy selling pressure at the upper high. From the hourly Bollinger Bands perspective, the three lines still maintain an upward divergence structure, but the upward slope of the upper band has significantly slowed down, and the distance between the middle band and the lower band has not further expanded, indicating that the continuation of the previous upward trend is weakening, and the trend strength is gradually diminishing.
The morning point briefly broke above the upper track and quickly fell back, failing to form an effective breakout. This is a signal of the bulls' unsuccessful attempt to push higher, reflecting strong resistance above. Subsequently, the point briefly broke the middle track; although it quickly recovered, the pattern of "briefly breaking the upper track + quick fall + pressure on the middle track" reveals that the short-term balance between bulls and bears has been disrupted. The effectiveness of the middle track support is in doubt; even if it is currently operating above the middle track, it is merely a weak oscillation and consolidation, lacking sustained upward momentum.
BTC trading suggestion: short at 89500-90400, with a stop loss at 91200 if it reaches 87000-85500.
ETH trading suggestion: Short at 3050-3100, stop loss at 3150, target at 2970-2920.