Wednesday, December 17th

Will it go up📈 or down📉??

Yesterday, market sentiment showed a retreat and correction, but the non-farm payroll data disrupted this technical trend. From the chart, the current BTC market is in a typical range-bound pattern. Unfortunately, although last night's non-farm payroll report was not very volatile, and despite the external positive evaluations of cryptocurrencies, trading volume data remains insufficient. Although the news is mixed with bullish and bearish signals, no significant directional drive has formed.

The current technical picture shows key node features: the hourly Bollinger Bands are clearly tightening. You will notice that the upper trendline is repeatedly resisting around the 88,000 level. The moving average system shows a bearish alignment, and short-term momentum is weak. Therefore, adopting a strategy of shorting near resistance levels is a reasonable choice to follow the oscillating pattern.

In the past two days, the chart shows a "rise-high - fall-back - reversal - retest" oscillating pattern, with a slightly frustrating trend, similar to the weekend's movement. The trading rhythm follows the "short first, then long" layout logic.

BTC🎯 87,200-87,600 short, target 86,000. After breaking below, watch for 85,000-84,000.

ETH🎯 2,960-2,980 short, target 2,900. After breaking below, watch for 2,850.