Today, due to Christmas Eve and Christmas Day tomorrow, the US stock market is closed for two days, so there hasn't been much volatility in the evening. However, in the morning, the clear strategy was to short at 87,500. During midday, I also took profits perfectly and exited the position. Bitcoin gained over 1,000 points, and Ethereum gained 55 points. Afterwards, the market remained in a lukewarm state. Overall, there hasn't been much fluctuation, which is also part of the correction and consolidation phase after a major move.

There has been no significant change in the current market structure; we still maintain a bullish outlook.

Looking at the market trend, the daily chart recorded another small consecutive decline. The overall daily level price remains in a low-range consolidation, with the daily moving averages continuing to diverge downward. As we mentioned recently, the medium-term outlook remains bearish, and the trading strategy continues to favor a long-term bearish bias.

On the hourly chart, the short-term price surged and then fell back, stabilizing below the hourly moving average resistance. The hourly moving averages are currently converging, indicating a short-term sideways trend. As the consolidation at high levels prolongs, the current four-hour price is gradually stabilizing below the indicator support level. The four-hour moving averages are crossing downward, showing signs of resistance and potential decline.

Many traders missed the quick drop in price today. A small rebound is expected afterward, followed by further bearish movement. The strategy is to short on rebounds, but avoid blindly chasing the rally. Pay attention to key levels, timing, and manage positions reasonably.

Bitcoin: 87500-87800 Short, target focus 85000
Ethereum: 2950-2980 Long, target focus 2800