12.11 Morning Bitcoin and Ethereum Analysis

During the early hours, Bitcoin's price briefly touched 94,500, then quickly encountered resistance and retraced. The current price has fallen below 91,900, forming a series of lower high rebound structures. This trend indicates that bullish momentum is weakening, and there is significant selling pressure above.

From a technical chart analysis, the 4-hour timeframe shows that moving averages are aligned in a bearish pattern, and the Relative Strength Index (RSI) has fallen below 50, indicating the market is in a weak zone. Combined with lower volume during rebounds and higher volume during declines, it suggests that bearish forces are strengthening. If Bitcoin's price remains below 92,500, it may test the previous low support at 91,900 again.

In the short term, key resistance is located in the 93,000-93,500 range. If the price cannot break through this zone effectively during a rebound, the market will remain bearish. Once the support at 91,900 is broken, Bitcoin's downside could expand further, with target levels moving down to the 90,500-90,000 range. Trading strategies should closely monitor signs of weakness after a rebound.

Bitcoin Recommended: Short at 92,500-93,000, Target 90,000

Ethereum Recommended: Short at 3,370-3,400, Target 3,220