Ethereum 3490 in, 3451 out, gaining 39 points, earning 30,000 oil

December 25 Evening Thoughts:

After experiencing a whole day of volatile trading, the cryptocurrency price surged again in the evening, reaching a peak of 99323 at this key level. However, it quickly reversed and dropped back to around 97570. Fortunately, the bullish outlook we proposed in the afternoon was accurately validated during this series of price fluctuations. From the trend of Ethereum, a similar surge occurred in the evening, peaking at around 3547, but soon began to retreat, currently maintaining a status near 3470.

From a technical structure perspective, on the four-hour level, the price has recovered upwards, but the high level has failed to achieve a volume release breakthrough, leading to a pullback. There is strong selling pressure at high levels, failing to sustain the bulls, and the volatility is merely to further entice the bulls while controlling the speed of the decline. In the short term, there is a shrinking volatility trend downwards, coupled with the arrangement of bearish volume, but there is clearly a lack of sufficient volume to support an effective breakout in the high area, which directly leads to the price's pullback trend. This phenomenon fully indicates that the selling pressure at high levels is extremely strong, with the essential goal of controlling the speed and rhythm of the decline. From the short-term trend judgment, the price is showing a pattern of shrinking volatility downwards, and the bearish volume has already formed an arrangement. Based on this technical analysis, our operational strategy for the evening is to choose to short on rebounds.

Bitcoin 98800-99200 short Target 97000-97400
Ethereum 3490-3510 short Target 3430-3450

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