On December 31st, Tuesday, as we approach the New Year, the rebound is hindered and continues to be restrained.

As time goes by, 2024 will eventually part ways with us. In this year, we have experienced too much, countless laughter and endless warm memories that cannot be expressed in words. All experiences today form a perfect conclusion like a sentence. Looking back, it feels like everything was just yesterday. On the last day of the year, let us calm down, bid farewell to the old year, and look forward to the future, carrying the accumulated strength to embark on the next journey to new horizons and open a new chapter.

Yesterday, Bitcoin once again hit a recent low, currently hovering around 91,500. The market was bearish, and short positions achieved quite good returns. However, after another round of decline, the market showed an extreme reversal. After rising to the 95,000 area, it faced pressure and retreated, currently returning to the 92,500 line. The short positions laid out at midnight unfortunately hit the stop loss. Currently, the rebound cannot be sustained, and the main trend continues to be weak downward movement, so we should maintain a high short mindset in our operations.

From the daily chart, the weak structure has not changed. The market is still mainly in a fluctuating downward trend, forming consecutive bearish candles in the short term. Therefore, the short-term rebound is not to be feared. The 4-hour chart also shows a clear trend of continuous weak decline. From the candlestick patterns, it is evident that the rebound movements have not provided much, and more often, it is characterized by bearish candles. The market shows a pattern of slow rises and rapid falls, and new lows are continuously being established. In such a weak market, the rebound is an opportunity to enter the market. In a weak market, it is advisable to follow the trend and go short!

On Tuesday morning, it is recommended to short Bitcoin around 93,000-93,300, targeting 91,000-90,000.

On Tuesday morning, it is recommended to short Ethereum around 3,380-3,400, targeting 3,300-3,200.

As the year comes to an end, we are grateful for the sunshine and rain this year, which have allowed us to shine on the path of growth; we are thankful for the friends and family who have accompanied us along the way, as it is you who fill our lives with warmth and strength.