Xiang Li: December 9 Evening BTC & ETH Operations and Analysis

In the afternoon, the market showed a unilateral upward trend with limited overall fluctuation. BTC rebounded steadily from the low of 89,368 to around 90,584, then slightly retraced to the current 90,100 area for correction. ETH closely followed BTC’s movement, starting to gain momentum from 3,089, rising all the way north to a high of 3,130. Unfortunately, it failed to hold above that level and then fell back to hover around the current 3,100 area.

From the four-hour chart, BTC is currently running within the Bollinger Bands’ upward channel, with all three bands moving up in sync, creating favorable conditions for another breakout to new highs. On the MACD indicator, the lines are close to the lower side of the zero axis, and buying volume is still increasing, suggesting a reversal is imminent.

In the short term, BTC may continue to move downward. Once this cycle ends, bulls are expected to take the lead again, and the downside is not expected to be significant. The bearish momentum seems somewhat insufficient, so the shorting space is limited. To be conservative, continue to buy on dips in the evening!

For BTC, you can go long in the 90,000-90,500 range, targeting 91,200, 92,200, and around 93,500 in sequence.
For ETH, you can go long in the 3,100-3,130 range, targeting 3,140, 3,180, and around 3,220 in sequence.
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