Market analysis for December 4th. South Korea suddenly announced martial law yesterday, leading to the collapse of domestic cryptocurrency exchanges. The price of Bitcoin briefly dropped to around 60,000, and Ethereum also touched over 2,000, while other altcoins evaporated to about 30-40% of their original value. Following this, a large amount of capital flooded into the market, and after 10 PM, the price rebounded strongly after reaching 93,600. At 8:44, a notice was issued to watch for a rebound after 10 PM, and at 11:38, a notice was issued to short during the early hours, with the two strategies perfectly capturing the market movement.

From the 4-hour perspective, the overall Bollinger Bands show a dominant downward trend. Since yesterday, the price has remained active below the middle band, but today it attempted an upward breakout. However, it faced resistance at the MA30 moving average and pulled back. The current pressure reference is the middle band at 96,200/96,877, which serves as the boundary for upward movement. If it cannot hold above this boundary, a continued pullback is expected.

Currently, the hourly support level is at 95,465, and within the next two hours, it is still above this level. Personally, I believe that during the day, there will still be attempts to break upward. In terms of trading strategy, it is advisable to first go long, then short.

For long positions, consider around 95,500, aiming for 96,300/96,700.

For short positions, it is recommended to consider around 96,800, targeting 95,500/94,500.