Good morning everyone, it's December now, and also the beginning of a new week~
The market has been declining since around 7 AM, having dropped more than 4000 points. In this wave, the bulls have been completely liquidated, and the market has once again shifted from panic to extreme panic. As for altcoins, there's not much to say; most altcoins are following the downward trend. At the macro level, the market is still in a downtrend, while at the weekly level, the market is overall in a weekly consolidation phase. Therefore, I personally think we should first pay attention to the area around 85000. If this level cannot hold this week, it is very likely to drop again towards the 80000 mark.
Looking at the latest news, there are still quite a few developments this week. It's advisable to pay attention to Trump's nomination for the next Federal Reserve Chairman, as well as Powell's speeches and the relevant data releases this week. Additionally, the focus this month is whether there will be an interest rate cut, with market expectations at a 25% chance of a rate cut. As for the results, we will wait for the official announcement.
First, let's talk about direction: bearish. Now, regarding the current market trend, overall it is still unstable, with limited rebound strength. In the short term, the market will fluctuate within the range of 85000-88500, while Ethereum will fluctuate within the range of 2750-2930. SOL's daily trend is relatively weak, with short-term fluctuations expected in the range of 122-132.
Short-term contract trading strategy:
BTC short at 88000 or enter at a high, add position at 90000, take profit in batches at 85000.
ETH short at 2880 or enter at a high, add position at 3000, take profit in batches at 2750.
SOL short suggestion at 129 or enter at a high, add position at 134, take profit in batches at 123.
Friendly reminder:
1. Stop-loss settings should be combined with personal liquidation prices and individual risk tolerance.
2. Don't be greedy; it's safer to take profits, even if it's a small loss. If the direction is right, continue to hold.
