Analysis of Bitcoin Market on Wednesday Night, 12.11!

Good evening, the entire day session has been in a sideways correction mode, Bitcoin is slowly rising but without volume, the price is consistently under pressure and unable to rise. Ethereum is slightly stronger, and at 21:30 this evening, the CPI will be announced, which is likely to break this deadlock!

Bitcoin's current price is at the 98300 level, the Bollinger Bands on the 4-hour chart are still under downward pressure, the lower band tested and broke through support before rebounding. This evening, rely on the middle band for pressure to engage in short positions, with resistance areas above focusing on 98500 and 99500. Short positions should be initiated around here, targeting lower at 97000, 96000, and 95000. Below, support levels are at 94700 and 94200, where we can still attempt to accumulate long positions. A valid break below 94000 will trigger a stop loss for long positions, with a target above looking at 95500-96500-97500.

Ethereum's current price is at the 3725 level, with evening attention on resistance above at 3770 and 3840, planning short positions around these high levels, targeting lower at 3650, 3550, and 3500. For accumulating long positions below, reference levels can be 3560 and 3510, with a stop loss if it breaks below 3470, targeting above at 3650, 3750, and 3800.