Early morning thoughts on 12/20

Currently, the market for Bitcoin shows a significant pullback in the K-line pattern at high levels, forming a large bearish candle, indicating increased selling pressure. In the 4-hour cycle, the price has gradually dropped from the high of 107600 on the 18th to the current 99500, showing a downward trend in the short term. The technical indicator MACD in the 4-hour cycle shows that the MACD histogram has turned from positive to negative, and the DIF line has crossed below the DEA line, indicating that bearish forces are dominant in the short term. Therefore, we will wait for the bearish trend to test the bottom again before entering the market for layout, as the larger trend has not changed, and our belief remains unchanged.

Yesterday, at 3 AM, unemployment claims data was released with results below market expectations. This should have triggered a rebound from the market's low, however, Powell revealed at the press conference that interest rate cuts will be delayed until next year.

This news provided a great opportunity for market manipulators to wash out positions, leading to a sharp decline, breaking the 100,000 mark as if water was being released from a dam. Currently, the bearish forces are surging, and the downward space has been opened, with expectations that bullish chips will continue to be washed out.

From the 4-hour chart, continuous bearish declines indicate heavy selling pressure in the market, with the lower band widening significantly and extending downwards, and support levels have been breached. Although there is still a slight pullback in the trend, the overall trend remains bearish. Therefore, in subsequent operations, we will continue to maintain a high short mindset for layout.

Early morning trading suggestion:

Short Bitcoin around 97000-98500, with a target looking down at 95000-94000

Short Ethereum around 3440-3470, with a target looking down at 3350-3300 4755074923266358193379913030419076603387940900857129776$BTC 3560364636587639937839