Today's market activity was relatively quiet, with a consistent strategy throughout the day. The retracement levels provided in the afternoon were accurately validated. During lunchtime, the market peaked near 107490. In terms of Ethereum, after a bottom rebound to around 4039 in the morning, there was a certain degree of retracement. In the evening, when the U.S. stock market opened lower, it initially rose and once again set a new high at around 108366 before retracting. Overall, the current market remains in a volatile rhythm, and whether choosing to short or go long, there are opportunities and possibilities for profit in this market environment.

December 17th Afternoon Thoughts:

Bitcoin has recently shown a strong upward momentum, successfully breaking through the first resistance level of 106335. From the technical chart's one-hour level, its price has returned to being controlled by the bulls, which clearly indicates a strong bullish momentum. If Bitcoin can firmly establish itself at this key position of 106335, the next resistance level will focus on 107783, with a considerable possibility of further breaking upwards, extending to the area around 108500. However, the market is unpredictable; if the resistance level of 106335 is not effectively consolidated, Bitcoin may likely fall into a correction phase again at the one-hour level. At that time, the lower support levels will be 105354, 104720, and 103300 in order.

In the early trading session, Ethereum briefly tested the four-hour support level of 3945 before quickly launching upward. However, from the overall market performance, its trend remains relatively weak. Currently, the market needs to focus on the resistance level of 4022. If Ethereum successfully breaks through and stabilizes at the position of 4022, its price is expected to continue rising, with subsequent resistance levels targeted at 4074 and 4109. Conversely, if the resistance level of 4022 is difficult to break and cannot stabilize above it, the minor market trend of Ethereum is likely to continue correcting, with lower support levels being 3955, 3890, and 3822 in order.

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