12.22 Monday Midday Market Analysis

In the morning, after a short-term rise in Bitcoin that touched the high of 89600, it failed to hold and quickly fell back, reaching a low near 87800. The entire process of rising was not accompanied by an increase in trading volume, and there was a clear release of selling pressure during the decline, confirming that the bullish momentum has been exhausted, with heavy selling pressure at high levels above. From the hourly Bollinger Bands perspective, the three lines still maintain a diverging structure upwards, 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 expanded further, indicating that the continuity of the previous upward trend is weakening and the trend strength is gradually diminishing.
The morning point briefly broke above the upper track and then quickly fell back, failing to form an effective breakout. This is a signal that the bulls' attempt to push higher has failed, indicating strong resistance above; shortly after, the point briefly broke the middle track. Although it quickly recovered, the trend of "briefly breaking the upper track + rapid fall + middle track under pressure" reveals that the short-term balance between bulls and bears has been disrupted. The effectiveness of the middle track's support is in doubt. Even if it is currently operating above the middle track, it is merely a weak consolidation with a lack of sustained upward momentum.
BTC trading advice: Short at 89500-90400, stop loss at 91200, target 87000-85500.
ETH trading suggestion: Short at 3050-3100, stop loss at 3150, look for 2970-2920.