Last night's N-shaped tug-of-war was quite spectacular. This repeated tugging, regardless of the circumstances under which it evolved, is no different from the previous wave of fluctuations and adjustments. The same downward trend line, the same sideways consolidation, and some may have already forgotten that this sideways range persisted for a long time before breaking. Of course, it first executed a standard false breakout, and after breaking the trend line, it bottomed out and rebounded for a correction, ultimately failing to surpass the previous resistance level, just touching it before coming down. Now, Yan Ling has to consider whether the evolution of this adjustment can make a comeback.

The current fluctuations are still relatively weak. Although the prices are still above the support trend line, the horizontal resistance has indeed become very apparent. Last week's low reached around 92400, and this week it directly broke down again to around 91500. This is a real breakdown action for the trend line, but the actual horizontal support has not been touched yet. Therefore, before that, Yan Ling believes it is still possible to look for a rebound space above the 90000 support, focusing on short-term targets without needing to say much. When the time comes, seek to continue looking bearish at the next high. So at this time, do not be misled by false breakout market movements. Wait for this cyclical weak adjustment to finish before discussing subsequent bullish issues. In daily operations, continue to treat the range between 96000 and 90000 as weak.

Zhou Yan Ling's Bitcoin trading strategy on 12.31:

1. Short at 94200-93500, stop loss above 95000, target 91000-90000, continue to break down looking at around 89300.

2. Long at 90200-91000, stop loss below 89400, target 92200-93000.

Zhou Yan Ling's Ethereum trading strategy on 12.31:

1. Long at 3300-3330, stop loss below 3250, target around 3440, continue to break up looking at around 3510.

2. Short at 3440-3400, stop loss above 3500, target 3330-3300, continue to break down looking at around 3210.