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#BTC资金流动性 12.23 Market Observation
The Ethereum trend is weak, and the short position strategy remains unchanged.
Yesterday's market was flat until the early hours when a clear downward breakout was observed. Ethereum attempted to rise multiple times but was suppressed each time, eventually falling from a high of 3077 to around 2961, a drop of over a hundred points, reflecting the bearish tone still present in the market.
On the four-hour chart of Bitcoin, the price is repeatedly making narrow fluctuations near the middle band of the Bollinger Bands. During the rebound process, it has frequently been suppressed. Although there are sporadic signs of rebound, the trading volume is sluggish, and the strength of the rebound is clearly weak. From a technical perspective, there is a lack of momentum to support upward movement.
Hourly level is more intuitive – the Bollinger Bands have moved from an opening to a closing position, the MACD indicator has formed a death cross, accompanied by a significant increase in trading volume, which means that bearish forces are gradually being released. In the short term, the high short strategy is still a priority to consider.
Ethereum trading advice: Consider placing short orders around 3057 and 3020, targeting the levels of 2960 and 2900.
$BTC $ETH $BNB