Evening Insights on 12.4
Based on the current market analysis, the daily chart is clearly under pressure, showing a downward trend, while the four-hour chart still maintains a solid bearish trend. Although there has been a slight uptick in bullish sentiment in the short term, it has not shaken the overall trend. In the four-hour candlestick chart, prices are hovering between the middle and upper bands, and the Bollinger Bands are gradually flattening, indicating that the market has yet to show a clear one-sided direction. It is expected that the oscillating pattern will continue to dominate in the short term.
In recent market activity, the highs are being tested repeatedly, indicating a certain intention to break through; however, in terms of trading volume, the expectations for Bitcoin to demonstrate a strong one-sided trend are not optimistic. Intraday trading has shown frequent alternation between buying and selling, and the period of active trading volume has basically come to an end. Therefore, our strategy is to focus on shorting at high levels and supporting long positions at low levels!
Bitcoin: Short near 96700-97100, looking down to 95200-95500
Ethereum: Short near 3720-3740, looking down to 3630-3650
