12.19 Summary and Early Morning Market Analysis!

The cryptocurrency price slowly rose during the day, with a slight spike in the evening followed by a quick pullback. The short-selling strategy provided during the day perfectly matched the price movement. Although U.S. stocks opened high in the evening, they did not push the cryptocurrency price higher. The rebound in the evening occurred just as it retraced near the downtrend line around 103000, temporarily stopping the decline! However, the short-term bearish trend has not been terminated yet, and the overall trend remains unclear! It would be best to wait for stabilization before re-entering!

Bitcoin was pressured down to the lowest line of 96800 due to the interest rate decision. From the current technical trend, Bitcoin is declining faster than expected, reflecting a strong bearish movement. After the bears quickly pushed the price down, it indicates that in the short term, the market will enter a range of oscillation around the midpoint of 97000-100000. Once the negative factors are exhausted, there is almost no downside space left in the short term. In the early session, it tested the support at 98800, already completing a weak to strong shift at the low point. Next, it will rely on 97000 as the short-term support area to launch another oscillation rebound. Therefore, after the bears have taken their position, it is not advisable to continue shorting or be bearish in the short term, but rather to look for a bottom rebound and be optimistic about the bulls' upward correction! #币安Alpha项目公布 #灰度SUI信托基金 #美联储放鹰 $BTC $ETH