12.10 BTC, ETH Evening Analysis: Bulls Remain Weak, Focus on Rebound Short Positions

Ethereum had two significant downward spikes at 5:00 AM, and this deep pullback has caused bulls to suffer greatly, as the channel trend indicates that Ethereum should rise. This round of shakeout is also aimed at accumulating chips for the main player. We warned on the 6th to be cautious as the market continues to behave unpredictably. Last night's market trend aligned with expectations, and the post also emphasized that Ethereum will continue to pull back. The strategy is to focus on shorting at high points, so as long as one follows the direction to open short positions, it is generally possible to capture the last wave of pullback space. Currently, the market has broken below the trend chart and is heading down, first pulling back and then rebounding above the trend line before dropping again. The larger trend remains bearish.

From the 4-hour chart of BTC: After two downward spikes at 100,000, a double top has formed, and it is currently experiencing wide fluctuations within the range. The highest point of the trend line within the channel is around 98,500, which is the best position to short, as after multiple breakouts, the downward spikes have not stabilized. As long as this position does not stabilize, there is still at least a 2,000-point downward pullback potential. However, if it breaks below the red circle position on the trend line, we will directly look at 91,760. Therefore, the trend chart clearly indicates where the key positions are and how to operate.

BTC Evening Strategy: Short at 98,500-99,000, target around 95,000!