December 19 Market Analysis:
Market Situation: Yesterday, the price trend repeatedly broke through the downward support level of 104,000. The recovery process of the bulls was slow and failed to achieve a strong reversal, instead showing a significant downward trend, with Bitcoin dropping to around 100,300. In the early hours, the Federal Reserve's interest rate decision met market expectations, having a relatively weak direct impact. However, Powell mentioned in his speech that the pace of interest rate cuts may slow down next year, which had a profound impact on the cryptocurrency market.
From a four-hour perspective, the downward support level has been broken, and the Bollinger Bands show a significantly widening downward extension, indicating a broad support space below. This means that there is still significant room for bears to retreat, and the operational strategy should shift to a primarily short position. Once the price rebounds, a short position can be taken.
For operational recommendations regarding Bitcoin: you may consider opening a short position around 101,000, with a target price of around 100,000 - 99,500.
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