The uncertainty of U.S. monetary policy has suppressed speculative enthusiasm for Bitcoin, with some investors choosing to reduce exposure and take profits. Additionally, there has been capital outflow from ETFs. With the overall hawkish stance from the Federal Reserve, the dollar is not expected to easily lose its position gained this year, although the sluggish trading volume during the holiday season may trigger some unnecessary volatility. Overall, if there is any market turmoil during the holiday period, it is more likely to hit U.S. stocks and bonds. The Federal Reserve's hawkish stance has not been welcomed by Wall Street, and as U.S. Treasury yields continue to rise, sell-offs may intensify. With Christmas approaching, the market next week is expected to be relatively calm, although there are still some influential data points. However, due to thin liquidity, market volatility may become significant. Here are the key points the market will focus on in the new week: Monday 23:00, U.S. December Consumer Confidence Index from the Conference Board; Thursday 21:30, U.S. Initial Jobless Claims for the week ending December 21.
Bitcoin has currently experienced a V-shaped rebound. The market has temporarily halted its short-term decline. Looking at the daily chart, the lows are continuously rising. It is yet to be determined whether this adjustment is complete. However, there is a performance of reaching new highs, and a significant pullback during the adjustment will affect the short-term adjustment rhythm. Attention should be paid to the resistance above around 98300, which is also the previous starting decline position, while the support below should focus on around 95000. A significant pullback during the adjustment will affect the short-term rhythm. The strategy for the weekend should first focus on the adjustments within the range.
Ethereum's price has rebounded from a low of 3101 to a high of 3553, where it faced resistance and pulled back. The price has continued to decline until reaching a low of 3291. From the current trend, the overall structure has not changed significantly after the dip and rebound; it is still in a process of consolidation, preparing for next week. The price action is in a contraction phase, with short-term momentum slightly weak. After all, the intraday fluctuations are relatively large. Currently, it remains in a pause to recover. In the larger mid-term trend, as long as the price has not successfully reclaimed and stabilized at the key level of 3650, the overall trend is still under bearish control. Furthermore, in the local area, the accompanying selling pressure is relatively heavy. There is significant short-term support and resistance at both ends of the price. Within the existing price range, there are opportunities for short-term trading. It is expected that the market may complete its adjustment within this range until tomorrow.
