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Wednesday, 12.17 Bitcoin and Ethereum Intraday Observation
The market is entering a correction cycle as expected, with signals of bullish and bearish forces switching becoming increasingly clear. The high-level short suggestion from yesterday's morning session finally paid off—once again, a precise timing. For friends who have already opened positions as planned, my advice is to hold on and not rush to close, wait for the market to continue downward, as there is still room for further decline.
From the hourly chart, the price is oscillating around the middle band of the Bollinger Bands, repeatedly testing the support at the middle band, indicating that the bearish momentum is gradually building.
Bitcoin: Range of 87,200-87,500, currently around 86,000
Ethereum: Between 2,970-3,010, current price 2,800
#大户持仓变化 $BTC $BNB
It's the same Bollinger Band middle line trick, this move never fails. There's still time to dip further.
Below 80,000? This pace feels off.
Damn, got caught again. How are they always so accurate?
Waiting for a new low to be broken. Hold on tight and don't panic.
Wait, can ETH at 2800 really go lower? It feels like it has already dropped enough. Holding on might get you trapped...
But on the other hand, this repeated testing of the middle band of the Bollinger Bands does tend to amplify volatility. If it breaks below later, there might really be room to move.
There is still room for further release, and this judgment is quite good. From the perspective of hash rate to reward ratio, the ROI cycle for building positions now looks much better than at higher levels.
Keep holding on, it sounds easy, but when the price drops, you still have to bear the psychological pressure. This is when your resolve is truly tested.
Wait, can the 86,000 level still be broken down further? Need to carefully check what support is ahead.
Ethereum at 2800 feels a bit weak. Can't it break back above the 2970-3010 range?
Wait, it's really dropped to 86 now, but I'm a bit doubtful whether it can continue to go down this time.