Thursday Market Trend Analysis and Previous Day Summary

Yesterday's market review was quite interesting. Bitcoin started retracing from around 88,349, reaching a low of 86,355, then suddenly surged upward to around 87,660 during the early hours. Ethereum followed the trend, dropping from around 2,987 down to a low of 2,886, then rebounded to the 2,948 area.

The intraday trading plan is as follows: short positions on Bitcoin at the 87,800-88,500 resistance zone, expecting a dip toward 87,000-86,500. For Ethereum, establish short positions around 3,000-2,970, with targets at 2,900-2,850. The actual movement fully aligned with the plan. During the live session, a short-term long opportunity for Ethereum was presented near 2,910, which eventually pushed up to 2,948. According to data statistics, Bitcoin today made two short and one long trades, earning 2,198 points; Ethereum captured 68 points. The market, strategy, and real trades all achieved a win-win situation.

What is the current market outlook? With Christmas approaching and the US stock market about to close, historical volatility cycles suggest that the fluctuation during this period is usually not too aggressive. More importantly, the long-term downtrend has not shown signs of reversal, so we should continue to maintain a bearish bias. In the short term, positive news could stir the market, but remember the core logic: "Buy the expectation, sell the fact." A true turning point only occurs when prices stabilize above key support levels. For now, this rebound appears to be a market self-repair process, and conditions for a reversal are not yet mature.

From a technical perspective, the 1-hour chart shows a clear resistance pattern. Although prices attempt to rebound, each time they touch the middle Bollinger Band, they are pushed back, indicating that this band has become a solid short-term resistance.

While the MACD shows an initial golden cross signal, the red momentum bars are shrinking, and the fast and slow lines are hovering below the zero line, indicating that the rebound's driving force is very limited, with clear signs of exhaustion. Overall, the technical analysis suggests that the bearish force remains dominant, and the subsequent strategy should continue to focus on shorting at higher levels.

Specific trading suggestions:
- Bitcoin: Short positions around 87,800-88,300, targeting 87,000-86,500.
- Ethereum: Short positions around 2,970-2,950, targeting 2,900-2,880.