December 30 Midday Thoughts:

As 2024 comes to a close, Bitcoin's price movement shows a repeated oscillation pattern in the range of 93000 - 98000 on the four-hour chart, and the annual and monthly closing lines are also approaching. Looking back on this year, Bitcoin's overall increase has reached 165% as of now, but the monthly trend has faced a 20% retracement adjustment after hitting a new high at the beginning of the month.

From the daily trend, Bitcoin has undergone a fundamental trend change. The previously steady upward trend was completely broken by a series of bearish candles, whose real bodies are strong and clearly announce the collapse of the previous upward trend. Examining the details of the four-hour chart, the bearish force has shown strong persistence. During the continuous decline, although there are occasional rebounds for correction, these rebounds appear extremely weak, lacking sufficient strength to form effective reversal signals. Given this market structure, each rebound can be seen as an excellent short-selling opportunity.

You can short Bitcoin at 94000-94500, targeting around 92500; if it breaks, you can continue to look down.

You can short the second coin at 3430-3460, targeting around 3350-3300.

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