12.27 Friday Market Highlights

Yesterday's market was "first rise then fall". In the morning, the price of the coin attempted to break the 100,000 mark but failed. After that, the market turned bearish, dipping to the 95,200 area, and then fluctuated within a thousand-point range between bulls and bears. In such a market, as long as you grasp the range well, both long and short operations have the opportunity to profit.

From the current market perspective, Bitcoin continued to decline yesterday. Looking back at historical bull markets, corrections typically last about two weeks.

After a deep correction last week, this week has recovered nearly half of the gains, now returning to around 95,100. However, the bearish momentum has not continued, and after the opening of the US stock market, it did not break the 95,000 support, indicating that there is still an opportunity for upward movement in the market.

Although the market originally expected the overall market to strengthen this month, the coin price has repeatedly tested the key resistance area above without breaking through, indicating insufficient upward momentum in the short term and a generally weak trend.

However, the key support level below has not been broken, and the possibility of a significant decline is small. It is expected that the subsequent trend will still be dominated by range fluctuations. If the key support level is broken, it may be necessary to consider changing the direction of operations.

Long positions in Bitcoin can be taken in the 95,500 - 95,800 range, targeting 98,000. If it does not break through, reverse to short and look towards 96,000. Ethereum is relatively weak; just operate according to the rhythm of Bitcoin.

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