December 20th, Friday Bitcoin and Ethereum Strategy Analysis:
In the early hours of yesterday at 3 AM, the U.S. unemployment claims data was released, which unexpectedly came in lower than market expectations, theoretically providing an opportunity for a low-level rebound in the market. However, Federal Reserve Chairman Powell released a key signal in the subsequent press conference: the interest rate cut plan for next year will be delayed.
This sudden news was quickly picked up by market manipulators and transformed into a deep washout action, causing the cryptocurrency market to face significant pressure, with prices plunging like a waterfall, breaking through the important 100,000 barrier in one fell swoop. The current market situation shows extremely strong bearish forces, with a clear downward trend, and it is expected that bullish funds will continue to face severe tests and cleansing.
From a technical perspective on the four-hour chart, the consecutive bearish candles clearly reveal the enormous downward pressure the market is experiencing, with the lower support area being significantly widened and continuously expanding downward, and the previous support level has been effectively broken. Although there have been occasional signs of slight rebounds during this time, the overall trend still firmly points in the bearish direction.
Therefore, in terms of subsequent operational strategies, we will continue to maintain a high-short layout approach, fully utilizing the current market dynamics to seize potential downward profit opportunities.
Operational Recommendations:
Bitcoin near 97,400-98,400; look down to 95,000-94,000
Ethereum near 3,440-3,470; look down to 3,350-3,300
