The 1-hour chart presents a clear bearish signal: after the price surged to the peak of 89600, it formed a long upper shadow, reflecting significant selling pressure above; the short-term quick rebound has exhausted the upward momentum, and there is a demand for a technical correction. The current price is consolidating sideways without breaking through the previous high, with an expanding deviation from the moving average system, and the volume did not increase in sync during the surge, leading to a continuous decay in upward momentum, making it highly likely to retreat towards the moving average support level.
Operation Suggestions:
- Pancake: Short positions in the range of 89500-89800, with a target looking down at the 87300-87800 area; - Ether: Short positions in the 3050-3080 range, targeting a drop to around 2900. $BTC
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Evening operation suggestion on 12.22
The 1-hour chart presents a clear bearish signal: after the price surged to the peak of 89600, it formed a long upper shadow, reflecting significant selling pressure above; the short-term quick rebound has exhausted the upward momentum, and there is a demand for a technical correction. The current price is consolidating sideways without breaking through the previous high, with an expanding deviation from the moving average system, and the volume did not increase in sync during the surge, leading to a continuous decay in upward momentum, making it highly likely to retreat towards the moving average support level.
Operation Suggestions:
- Pancake: Short positions in the range of 89500-89800, with a target looking down at the 87300-87800 area;
- Ether: Short positions in the 3050-3080 range, targeting a drop to around 2900. $BTC