Evening thoughts on December 16:
Bitcoin opened today at 104,460 and quickly climbed to a high of 106,665, successfully setting a new historical record. However, during the intraday trading, it showed signs of pulling back, indicating that it is currently in a dynamic adjustment phase. In the afternoon trading session, Bitcoin initiated a strong upward assault, advancing rapidly like an arrow, successfully reaching a high point of 105,390. However, it encountered strong resistance at this level, causing its price to sharply decline, as if it had lost support, continuing to fall until it temporarily stabilized at a low of 104,300. On the Ethereum side, after facing pressure at a high of 3,982, it began to pull back, gradually descending under the persistent pull of the bearish forces, and ultimately halted its decline at a low of 3,923.
From the analysis of the 4-hour K-line trend, signs of a peak in the upward movement have emerged, which may imply that the price will either retract or enter an adjustment range. There is a high probability of a slight downward trend in the evening session, but given the current situation, the likelihood of a significant drop is low. Meanwhile, the upward momentum is also gradually diminishing, so cautious handling of long positions is advised. Looking at the current market conditions, it will be quite challenging for Bitcoin to break through the resistance zone above 108,000 in the short term. However, if factors such as market sentiment and trading volume work together to achieve a breakthrough, Bitcoin's upward space will further expand, with an increase of at least several thousand points. Therefore, the evening trading strategy should focus primarily on going long on pullbacks, with short positions as a supplement. It is suggested to lightly position short orders in the range of 105,800 to 106,300.
Bitcoin: Long from 102,000-102,500, targeting 104,500-105,000
Ethereum: Long from 3,880-3,900, targeting 3,950-3,980
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