Xiang Li: December 5th Morning BTC and ETH Operations and Analysis

Yesterday’s market overall showed a V-shaped trend. There was significant volatility at both the beginning and end, while the rest of the daytime sessions were mostly in a sideways consolidation with dull trading. Indeed, there were opportunities for both bulls and bears. Relying on our grasp of market trends and persistence in long positions, we deployed three orders, with two in BTC capturing over 2202 points of space, and one in ETH capturing over 47 points of space.

Looking at the five-day chart, the KDJ indicator shows a golden cross between K and D, indicating that short-term market momentum is shifting upwards. The RSI indicator has also moved out of the oversold zone into the weak region, with all three lines lined up bullishly and steadily advancing into the strong zone. Meanwhile, on the weekly chart, BTC 80600/ETH 2620 has already bottomed out, and both KDJ and RSI indicators are diverging in a bullish direction.

Wealth often belongs only to the few because these people can look beyond the current noise and see further ahead. For BTC to explore higher levels, it urgently needs to break and hold above the 92900 level, which would then allow a second push to break through 93800; breaking that would set a new intraday high. For ETH, the first priority is to break and hold above the first line of defense at 3200, and then it may have a chance to break through 3220 and challenge the higher level at 3240.

BTC can go long in the 92000-92500 range, targeting around 93800.
ETH can go long in the 3140-3170 range, targeting around 3240.
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