#BinanceABCs December 17 Morning Review: The bulls lack sustained momentum, and the bears still hold the upper hand—Chasing the bottom is not worth the risk

Last night’s price surged to 88,000, which was exciting, but quickly reversed, and the strong trend could not be sustained. Instead, it entered a phase of repeated oscillation at high levels, with multiple failed attempts to break higher. Now it has pulled back to around 87,700, indicating that buying momentum is clearly weak. Looking at the logic behind this oscillation, it seems more like a "consolidation before a decline" rather than a strong rebound.

Technical signals are very clear:

On the 4-hour chart, the price remains below the middle band of the Bollinger Bands, with the entire channel gradually trending downward. Each rebound is weaker than the last;

The MACD indicator has formed a death cross below the zero line, showing no signs of energy weakening; instead, there is potential for continued release.

Currently, this rebound is essentially a technical correction wave, not a trend reversal signal. In simple terms: the rhythm favors the bears, and the risk of bottom fishing is much greater than the potential reward.

Trading reference directions:

$BTC: The 88,000–88,200 zone faces obvious resistance. Consider short positions when approaching this level during a rebound.

The first target is 87,000–86,500. If this level is broken, further decline to 85,000 is possible.

$ETH: The 2980–3000 zone is a strong head resistance. If the rebound volume is insufficient, avoid chasing high.

Key support below is at 2900–2850. How it performs here is crucial.

Current stage advice: Better to miss an opportunity than to trade in the wrong direction. Don’t leverage heavily without a clear direction, and avoid blindly chasing prices during rebounds. Be patient with the market and wait for it to give a definitive signal.