Overall Fluctuation!

This morning, Bitcoin dropped to around 92500 and then rebounded to 95000, but this process is characterized by a divergence between price and volume. After three consecutive bullish candles, there followed four bearish candles, still indicating a divergence between price and volume. Recently, there has been a continuous divergence, with overall buying volume being sluggish, but short positions are also decreasing. After reaching a low, shorts took profits and did not chase further down, possibly having learned from their previous experience of being caught off guard when prices spiked to 98000. They are hesitant to be overly aggressive again.

Currently, we need to refer to three doji candles: the first one is around 95400 at 10 PM on December 22, the second one is around 94400 at 9 AM on December 23, and the third one is around 94500 at 10 PM on the 23rd. Today, we need to pay attention to the price movement from 3 AM to 1 PM; we take the midpoint around 93800. It is clear that Bitcoin is forming a central range between 93800-95200. The overall movement is oscillating around the center of 94500. Thus, we roughly judge that there will be a fluctuating market in the near term, which is likely to be broad. It can oscillate around the range, with Bitcoin making moves within 92800-95800. If Bitcoin stabilizes above 95800, it will reach 97200-97500; conversely, if it falls below 92500, it will drop to around 90850! We are experiencing fluctuations recently, but we need to consider two extreme scenarios simultaneously. Therefore, everyone should plan their positions and stop-losses around this range.

Personally, I lean towards the idea that the daily retracement is not complete yet, but the four-hour chart has already turned upward. The one-hour chart is forming a central range, so we will first look for fluctuations, and if the range opens up, we will consider it broad fluctuations.

During the day, we look at the fluctuation in the 92500-95200 range, and for Ethereum, we look at the large fluctuation space between 3313-3473.