Last night's N-shaped tug-of-war was quite spectacular. This repeated pulling back and forth, regardless of how it evolved under various circumstances, is no different from the previous wave of fluctuations and adjustments. The same downward trend line, the same sideways consolidation; perhaps some have already forgotten that this sideways range lasted a long time before breaking. Of course, it first executed a standard false breakout action, and after breaking the trend line, it rebounded and adjusted back to the bottom, ultimately not exceeding the previous resistance level, merely touching it before coming down. Therefore, Yanling now has to consider whether the evolution of this adjustment's trend can have a second chance.

Currently, the fluctuations are still leaning toward weakness. Although prices are still above the support trend line, the horizontal resistance level has indeed become very apparent. Last week, the lowest point reached around 92,400, and this week it directly broke down again to around 91,500. This represents a real breakdown action for the trend line, but the actual support level has not been touched yet. So before that, Yanling believes it is still possible to look for rebound space above the 90,000 support, focusing on the short term. The target goes without saying; wait until then to seek the next high and continue to look bearish. Therefore, during such times, do not be misled by false bullish market signals. Wait for this cyclical weak adjustment to complete before discussing subsequent bullish prospects. In-day operations should continue to be treated weakly around the 96,000 to 90,000 range.

Zhou Yanling's 12.31 Bitcoin Trading Strategy:

1. Short at 94,200-93,500, stop loss above 95,000, target 91,000-90,000, continue to look lower to around 89,300.

2. Long at 90,200-91,000, stop loss below 89,400, target 92,200-93,000.

Zhou Yanling's 12.31 Ethereum Trading Strategy:

1. Long at 3,300-3,330, stop loss below 3,250, target around 3,440, continue to look higher to around 3,510.

2. Short at 3,440-3,400, stop loss above 3,500, target 3,330-3,300, continue to look lower to around 3,210.