Summary of 12.18 and Early Morning Market Analysis!

Bitcoin has been in a narrow range of fluctuations throughout the day, and the viewpoint remains the same: the downward space has been compressed to a very small extent, making a significant drop basically impossible, while an increase still requires a bit of opportunity!

Consistent expectations can lead to changes in market behavior; converging views do not necessarily bring positive returns. From a technical perspective, the current market is in a 1-hour level downward trend, and the downward trend has not yet ended. If it breaks 105000 this evening and cannot stabilize, it can be determined that there may still be a downward process, with support located in the 102000-100000 range.

Tonight will face significant changes, as the last Federal Reserve interest rate decision for 2024 will be announced at three o'clock in the morning. The market's direction largely leans towards a possibility of a 25 basis point rate cut, or it can also be said to be a done deal. This is a bullish indication for the Bitcoin market; however, we need to pay attention to whether this good news is immediate or will be realized later? Will it drop first and then rise? Or will it rise first and then drop? All of this is unknown. Every time there is a meeting, market volatility is bound to intensify, so make sure to manage risk in trading and also control the pace.