【12.26 New Brother Morning Silk Road】
Bitcoin is trading around 100,000 - 1,015,000, aiming for the target of around 96,000 - 97,000;
Ethereum is trading around 3,550 - 3,600, aiming for the target of around 3,400 - 3,300. The price of Bitcoin touched the low near 98,100 at midnight and started a rebound, climbing all the way to around 99,500 high. However, the price did not stabilize here and quickly retraced, with rapid changes in the market, making it hard to keep up. Meanwhile, Ethereum rebounded from the high near 3,439, reaching a peak around 3,487 before encountering resistance.
From the daily trend, after a prolonged weak downward movement, there was a significant upward surge. However, after the rebound, it failed to effectively continue the upward momentum and is currently pressured below the middle band of the Bollinger Bands in the short term. The price has undergone two days of consolidation but still failed to achieve an effective breakthrough. The resistance has not been broken, continuously consuming the bullish counterattack momentum. Once this momentum is exhausted, there may be a significant decline. After all, the market alternates between rising and falling and does not run in one direction. Currently, the rebound shows signs of stagnation, and it is recommended to focus on bearish positions in the short term. $ETH