12.31 Morning Thoughts

From the daily K-line chart, Bitcoin has been in a correction phase since hitting an all-time high in mid-December, currently hovering around $93,000. After briefly breaking below $95,500 on December 30, the bearish trend is evident. The four-hour K-line has returned to the Fibonacci level of 0.786 balance point at $94,300. It will take time to observe whether a head and shoulders bottom can form. The sideways range has been established, MACD has started to increase, and the DIF and DEA have formed a golden cross. The price's drop in the early morning has approached the bottom support level, and the key level of $91,500 has been reaffirmed.

Subsequently, the market has entered a consolidation range, with bulls seizing the opportunity to counterattack, gradually reclaiming lost ground. The current market is showing a pattern of bulls repairing the previous trend.

Bitcoin: Long near 91,700-92,000, aiming for around 94,500

Ethereum: Long near 3,300-3,320, aiming for around 3,450

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