It has started again, with higher trade volumes and a big dump. The short positions trading volume in the four-hour chart exceeds 3.3 billion USD, and 550 million USD in long order positions got liquidated in the 12-hour chart. From the daily chart, after a week of a volume-contracted rebound touching the middle band of the Bollinger Bands, the short positions continue to make a strong push. Ethereum has fallen over 230 points, and Bitcoin has dropped 5000 points. The daily MACD shows no obvious bottom divergence. Given the current momentum, it is difficult to form a double bottom and a resonance bottom pattern with bottom divergence. Do not easily attempt to buy the dip and go long. #December Market Outlook
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It has started again, with higher trade volumes and a big dump. The short positions trading volume in the four-hour chart exceeds 3.3 billion USD, and 550 million USD in long order positions got liquidated in the 12-hour chart. From the daily chart, after a week of a volume-contracted rebound touching the middle band of the Bollinger Bands, the short positions continue to make a strong push. Ethereum has fallen over 230 points, and Bitcoin has dropped 5000 points. The daily MACD shows no obvious bottom divergence. Given the current momentum, it is difficult to form a double bottom and a resonance bottom pattern with bottom divergence. Do not easily attempt to buy the dip and go long. #December Market Outlook