Trust comes from strong execution; first-class ideas with third-class execution, and third-class ideas with first-class execution, are both ineffective. Those without goals are pitiful, while those without execution ability are laughable; both are indispensable!

Let’s briefly review the recent market situation. First, on Friday, the market continued to test the lows as we analyzed in the article, ultimately dipping to around 92200 to find support. However, there was also a certain degree of rebound during the bottom-testing phase, with the market rebounding to around 99500 over the weekend. Yet, it ultimately failed to bring about a complete trend reversal. By today’s morning session, it dipped again, currently near the intraday low of 93700. Over the weekend, we did not engage in much trading, still holding onto previous high-position short positions, waiting for further market developments.

Next, as per our usual practice, we look at the daily chart at the beginning of the week. Currently, the daily level shows a clear downward trend, in a phase of adjustment, with moving averages forming a convergence at high levels. A further market movement would lead to a death cross at high levels, indicating a technical need for correction. It is important to note that the current daily level adjustment has a critical support level at the previous low of around 92000. Additionally, with Christmas approaching, the European and American markets are about to close for an extended holiday, during which capital may not be as actively entering the market. The upward momentum is not as sufficient as before, and there may be a period of liquidity slowdown. In the short term, it will be somewhat difficult to reach the previous strong levels; the ideal scenario would be to maintain a range-bound movement in the coming time. My personal view is that the market is likely to see further downward lows.

Therefore, the remaining time in 2024 may be somewhat torturous, but after the new administration takes over, perhaps under more relaxed cryptocurrency policies, Bitcoin's market will perform further. These are significant macro influences worth looking forward to, and historically, the market tends to perform well in the January to April period following Bitcoin halving.

Although there has been a rebound after the four-hour level bottoming, it can be noted that the volume is insufficient, thus the market cannot sustain itself and is running under moving average pressure. Combining this with the smaller cycles, after the morning's drop and rebound, the main operational rhythm remains focused on shorting during rebounds. If there is a rebound to around 97000 in the short term, it would be suitable to lay out short positions again.

The Ethereum market is not much different from Bitcoin; resistance above around 3400 can be targeted for shorting.

As for altcoins, if Bitcoin can maintain a range-bound movement, leveraging subsequent macro-level policy compliance, it is still possible to engage in strong coin positioning. Of course, encountering a rapid drop in the market is also very suitable.

【The above analysis and strategies are for reference only; please bear the risks yourself. The article is subject to review and publication, and market conditions change in real-time, making the information potentially outdated. Specific operations should follow real-time strategies.】

Scan to follow the public account

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。