Thoughts for December 31st:

Monday's market exhibited distinct phase characteristics. After a morning dip, the market became ensnared in a state of oscillatory consolidation, like undercurrents beneath a calm lake surface. Bitcoin took the lead in the evening, rebounding to a high of 94249, but the bearish forces quickly arrived, pressing the price down to a low of 91510, showcasing the market's unpredictable nature. Ethereum's trend mirrored this, experiencing a small rebound wave after a morning dip, reaching a high of 3436 before entering a consolidation range, and in the evening, it fell sharply alongside Bitcoin, touching a low of 3302.

From the 4-hour perspective, the market has gradually unfolded a retracement trend, with the K-line decisively breaking through the short-term moving averages, indicating a clear weakening of short-term momentum. However, in terms of technical patterns in smaller time frames, adjustments and repairs are quietly underway, with initial signs of rebound recovery appearing in the closing period. After the hourly line formed a lower shadow, it did not set a new short-term low today, and both attempts to push higher ended in retracement, as the ancient saying goes, "One strong push, then it weakens, and finally exhausts." The bullish momentum has already been nearly depleted, making blind bullish chasing undoubtedly risky. A high-level push followed by a drop forming an inverted V pattern is not out of the question; if this trend establishes, the downside space will be further opened. Currently, both the monthly and weekly lines are closing with bearish candles, undoubtedly providing strong guidance for bearish strategies, making the layout around short positions a primary choice.

Short Bitcoin around 93000-92500, target 91000-90000

Short Ethereum around 3350-3380, target 3200-3150

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