December 16 Afternoon Bitcoin and Ethereum Trading Recommendations and Outlook

From the current market perspective, the daily chart indicates that Bitcoin is still in a five-day consecutive decline phase. However, the short-term lows below confirm support, and there are clear bottom reversal signals. On the 4-hour chart, after a four-day decline and adjustment, a bullish engulfing pattern has appeared, currently dominated by bullish candles. The KDJ indicator remains at low levels with signs of divergence upward, indicating that bullish momentum is gradually being released. The current short-term momentum and the trend of Bitcoin are resonating positively, significantly increasing the certainty of an upward trend. On the hourly chart, technical indicators show that the lower band of Bollinger Bands is turning upward, confirming a bottom stabilization. The MACD bearish volume bars are expanding but the Bollinger Bands are narrowing effectively limiting downward space. Coupled with strong support from the previous consecutive decline bottom reversal pattern, Bitcoin has completed sufficient momentum buildup. The subsequent rebound and desire to recover lost ground are strong. Zhao recommends continuing the midday strategy with a focus on long positions at the bottom in the afternoon.
Buy near 86000-86500, watch for 87500 for a second buy, and around 2950-2920 for additional buy opportunities, pay attention to 3050#BTC #ETH