Morning Analysis for December 8

BTC completed a bullish reversal during the early hours, surging over 4,000 points in a short period and successfully breaking through the major resistance at the 90,000 level. Bullish sentiment has marginally recovered, breaking the previous pattern of weak consolidation.

On the daily chart, a bullish candle was formed. After the price broke above the daily midline resistance, it continued to rise but faced resistance near 91,700 and pulled back to around 88,900. There is concentrated selling pressure in this area, and any subsequent rebound testing this range is still expected to see a pullback. Pay attention to the risk of support retests after encountering resistance.

Although today’s rebound appears strong, short-term volatility has increased, and the 90,000 level has not yet formed effective support. The tug-of-war between bulls and bears continues, with the overall trading range fluctuating around 90,000. It is advised to use a range-trading strategy—selling high and buying low.

Trading Suggestions:

BTC 91,800-91,300 short, target around 90,000

ETH 3,130-3,160 short, target around 2,950