The overnight layout for short positions has been validated. We also benefited from the upward surge during the night, and we perfectly captured this round of pullback. Exiting was still a bit early; we didn’t leave at the lowest point. This market has been full of twists and turns, with back-and-forth washing of positions. Although there has been washing, we still provided the necessary insights, and the positions we held allowed us to gain substantial returns.

December 31st Early Thoughts:

Monday's market showed distinct phase characteristics. After a morning dip, the market fell into a state of oscillation and consolidation, like undercurrents beneath a calm lake surface. Bitcoin made the first move in the evening, rebounding to a high of 94249, but the bearish forces quickly arrived, with a surge of downward pressure pushing the price down to a low of 91510, vividly reflecting the market's volatility. Ethereum's movement echoed this, dipping in the morning before experiencing a small wave of rebounds, touching a high of 3436 before entering a consolidation range, and in the evening, it synchronized with Bitcoin, encountering a strong breakdown to a low of 3302.

From a 4-hour perspective, the market has gradually unfolded a retracement trend, with the K-line decisively breaking through the short-term moving averages, indicating a clear weakening in short-term trends. However, in terms of technical patterns in smaller timeframes, adjustments and repairs are quietly taking place, and there are early signs of a rebound and repair during the last trading period. After the hourly line formed a lower shadow, it did not refresh the short-term low today, with two attempts to push higher ending in retreat, reminiscent of the ancient saying, "One effort brings success, the second declines, and the third exhausts." The bullish momentum has clearly been exhausted, and in this situation, blindly chasing longs is undoubtedly fraught with danger. A high push followed by a retreat forming an inverted V pattern is not impossible; if this pattern is established, the downward space below will be further opened. Currently, both the monthly and weekly lines are closing with bearish candles, undoubtedly providing strong guidance for bearish strategies, making the layout around short positions the primary choice.

Short near 93000-92500 for Bitcoin, target around 91000-90000
Short near 3350-3380 for Ethereum, target around 3200-3150

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