December 17th Early Morning Bitcoin and Ethereum Operation Suggestions and Directions

Market sentiment is like a roller coaster in lightning, with crashes suffocating like falling into an abyss, and surges bringing joy as if ascending to the clouds. In seconds, one can taste the full spectrum of human emotions, and it’s also the exhilarating feeling of a counterattack from despair. On Tuesday, the intraday market sentiment once again completed a cycle, with Bitcoin developing a pattern of slow upward movement amid oscillations throughout the day. It dipped from around the 87,000 level in the early morning to a narrow range during the white session, then rebounded and stretched to around 88,140 in the evening. Bitcoin’s sentiment was synchronized with Ethereum, which also stretched to around 2,982 in the evening. The correlation is significant. Old Zhao’s intraday strategy involved a two-long and one-short wave layout for both Bitcoin and Ethereum, all precisely executed. Bitcoin gained a total of 4,194 points in space, and Ethereum gained 169 points. Recently, market sentiment has been relatively easy to grasp, belonging to a stage where resistance is high. Choices are difficult, but always remember, if you don’t make a decision and keep stagnating, it will always be difficult.

From the current market perspective, the four-hour chart shows that after three consecutive bullish attempts to probe the middle band of the Bollinger Bands without success, a retracement trend has emerged. However, the price remains just below the middle band of the Bollinger Bands, with bulls still eager to recover lost ground. Additionally, the lower shadow of the bullish candles indicates that short-term support is stable. On the one-hour chart, the market experienced two consecutive bullish attempts to push higher, but the upward momentum slowed down. Although there was some retracement, the bullish rebound’s continuation has not been interrupted. Currently, the price is stabilized above 87,400, with the Bollinger Bands’ middle band trending upward toward the upper band, indicating that short-term retracement is not a trend reversal signal but a preparatory phase before a key breakout. Therefore, Old Zhao’s midnight operation suggestion remains mainly bullish.

Bitcoin around 87,500 to 87,000 can be bought, watch for 88,500.
Ethereum around 2,940 to 2,910 can be bought, watch for 3,000.