Analyst Chen Shu: On December 17, Bitcoin and Ethereum successfully profited from long positions yesterday, with a weak rebound focusing on the 8.5 support level.

From the daily chart of Bitcoin, the price yesterday, as analyzed in the article, retraced to the 8.5 support level and failed to break it. It rebounded to a high of 8.8 before pulling back again. Currently, there is a need to retrace to the 8.5 support level again. Continue to pay attention to the breaking situation of 8.5. If it fails to hold, it may test the 8.3/80,000 support level again. In the short term, it is recommended to look for a retracement first, with the first support at 8.5.

From the daily chart of Ethereum, the fluctuation range of Ethereum is starting to narrow, currently oscillating between 2980-2900. Pay attention to the breakout direction of this range. If it retraces to 2900 and does not break, and then rebounds upwards to break 2980, you can look for a long position to catch the rebound. Conversely, if it breaks below 2900 and cannot return to the oscillation range, then look for a deeper retracement downwards.

Midday trading strategy (written at 13:40):

BTC: Try to go long at 8.56/8.5 for a 1-2000 point rebound, with resistance at 8.73/8.85 looking for 8.6/8.5 level.

ETH: Try to go long at 2900/2870 for a 5-80 point rebound, with resistance at 2970/3000 looking for the 2900 level.

The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one.

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