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December 29 Midnight Bitcoin and Ethereum Trading Suggestions and Directions
From the current market situation, the 1-hour chart shows that after a rally to 90,370, the price pulled back, forming a long upper shadow, indicating significant resistance around the 90,000 level. From a technical indicator perspective, the KDJ lines are in a low position and converging, not yet forming a clear golden or death cross. Short-term bullish and bearish momentum are tending to balance out. The RSI is below the neutral 50 line, showing that current bearish strength is slightly dominant but not yet in oversold territory. The MACD shows signs of shrinking, indicating that the downward momentum is weakening, but no clear reversal signal is present.
Short-term support level: the lower band serves as a strong short-term support. If broken, it could open further downside space toward 85,000.
Short-term resistance level: the middle band is the first resistance. After breaking through, attention should be paid to the previous high of 90,300.
Until a clear reversal signal appears, the midnight trading strategy should continue to follow the evening approach, focusing on trading below the middle band resistance, mainly taking short positions.
For Bitcoin around 88,000 to 88,500, consider shorting, with attention to 86,500.
For Ethereum around 2,950 to 2,980, consider shorting, with attention to 2,860.