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Xiang Li: Midnight Analysis and Operations for BTC and ETH on December 7
Looking at the current institutional charts across all levels, all signals are already very clear, and the overall market sentiment is extremely pessimistic, with the market completely dominated by bearish momentum.
As long as BTC doesn't break above the resistance levels at 89500 and 3050, the probability of a downward move during the early morning hours will increase significantly. At the same time, we need to pay close attention to the following key support points: for BTC, 88200, 87700, and 86500; for ETH, 2940, 2900, and 2840. As long as BTC can break and stay below the above ranges, the downward channel will be fully opened.
BTC can short within the 88500-89000 range, with a target near 87700.
ETH can short within the 2960-2990 range, with a target near 2900.
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