12/27 Analysis and Suggestions

Since last night until now, the market has maintained a sideways trend, almost continuously for an entire night. During this period, the price fluctuation range has been relatively narrow, with the highest resistance level reached around 96500 and the support level at 95000. Such a prolonged sideways consolidation suggests that a significant market movement is likely to occur in today's morning session.

From the four-hour candlestick chart, it shows a door-opening market. The candlesticks have been hovering above 95000 for an entire day after breaking below the EMA trend indicator. Looking at the technical indicators, the MACD shows a declining trend with decreasing volume, and both DIF and DEA have formed a death cross, further spreading the bearish trend represented by the death cross. In terms of the Bollinger Bands indicator, the middle track resistance level is clearly shown at 97000, with the lower track support level at 93000, and the current overall trend is oscillating around the middle track, with the upper track resistance level at the round number of 100000.

Preliminary Thoughts:

Short Bitcoin around 96800 - 97500, targeting 94000-93000.

Short Ethereum around 3450 - 3400, targeting 3300-3240.

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