BTC and ETH Trading Suggestions and Direction for Early Morning of December 8

Looking at the current market, on the 4-hour chart, the price is in a continuous decline with multiple bearish candles. In the evening, a strong bullish intervention led to a pullback near the 87,688 level. Currently, the real body of the candlestick is accompanied by a long lower shadow, indicating a quick rebound after a rapid dip, testing the strength of the lower support band. The Bollinger Bands show signs of narrowing, with all three bands trending downward, suggesting the short-term trend remains bearish and may continue following the bearish trend.

On the 1-hour chart, the Bollinger Bands are starting to widen, and there are slight signs of an upward turn in the three bands. After breaking below the lower band, the price quickly rebounded to the 88,970 level. In the short-term tug-of-war between bulls and bears, the forces appear balanced. Although the short-term moving averages and technical indicators favor sellers, bulls are able to quickly recover after dips and stabilize the price above, indicating strong support below in the short term.

So, what are the trading suggestions for midnight? We still maintain a bullish outlook. After breaking through the 90,000 level and stabilizing above, continue to open long positions. If you can’t wait, you can also consider short-term scalping by selling on rallies, but be sure to set your stop-loss. #BTC #ETH