Intraday, a double kill of bulls and bears occurs again. Timing and operation are very important.

|Hot News|

1. December 16th, 21:30 US November Unemployment Rate

2. December 16th, 21:30 US November Non-Farm Payrolls (K )

Review: Today’s most frustrating thing isn’t the sharp rise and fall, but the fact that your long positions got washed out, and those trying to bottom fish are stuck halfway up the mountain. If you’re still chasing gains and selling at dips, it’s very easy today to experience a pattern of rising and then falling, or getting whipped around. Today’s white session market is a typical structure of shrinking volume and downward shadow. The trend is most likely to develop into a weak rebound, a false stabilization, then further decline. Recently, the news indicates that European and American regulators are gradually bringing cryptocurrencies into compliance. Major institutional funds are not leaving but are slowly accumulating at low levels. Especially Bitcoin, which is increasingly being collected gradually. Short-term reactions of altcoins are more sensitive, often dropping sharply first and then recovering. On the daily chart, Bitcoin’s volume is clearly weaker than that of Ethereum.

As of 23:00, US stocks also showed a pattern of opening high and then declining, led down by tech stocks, with negative news from AI trading. Last Friday, US AI tech stocks experienced a “bloodbath”: led by Nvidia, Oracle, and Broadcom, tech stocks plunged one after another, reigniting concerns about an AI bubble and the prospects of computing infrastructure. Coupled with the contagion effect of the global tech stock decline, related sectors in A-shares also came under pressure, further suppressing market risk appetite. Currently, the three major US indices continue to decline.

BTC: After a quick rally in the morning, Bitcoin was again pressed down by US traders in the evening, with the Asian session’s gains being crushed. During the white session, Bitcoin faced strong resistance around 90,000-89,000. Given the current market environment, even if the trend may develop into an upward movement later, we should take profits now and wait for Thursday or Friday’s off-market funds to come in for a second entry. The simple logic is that as long as the 4-hour price remains below the middle band of the Bollinger Bands, any rebound will be with shrinking volume. This is likely to fuel the bears. Based on Bitcoin’s current trend, it is highly probable that it will revisit the early December long position entry point around 86,500 for a second bottoming and recovery of the support platform. For trading, if the white session’s high positions have been taken profit on, don’t chase shorts in the middle of the move. Long entries should be patiently waited for around 86,500-85,800, provided that volume increases with a rebound.

ETH: The current rebound of Ethereum is as strong as its decline is fast. Tonight, we only need to watch whether the 2950-2930 support level can hold. If it does, a white session V-shaped recovery is possible; if not, it will continue to test the strong support at 2800, the neckline of the support platform.

Intraday Trading Viewpoint (Focus on shorting, don’t try to bottom fish. Bottom fishing fuels the short sellers)

1. Enter long positions near 2950-2930 on ETH, with stop-loss at 2930, take profit at 3050-3140 above.
2. Enter long positions near 86500-85800 on BTC, with stop-loss at 85500, take profit at 89300-89700. Note: When the take profit level is reached without breaking previous highs, it’s a signal to reverse and go short again. Overall, recent operations should follow the principle of shorting high and buying low, riding the main force’s rhythm of washouts.