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Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: December 16, 14:57 Beijing time
Market Information
- The net outflow amount of spot BTC ETF yesterday reached a new high in nearly two weeks;
- Grayscale: Bitcoin is expected to reach a new high in the first half of 2026;
- Among the 25 largest banks in the United States, 14 are developing Bitcoin products;
- Glassnode: Bitcoin is facing resistance at $94,000, and the market is in a consolidation phase;
- Williams: The Federal Reserve has reduced bank reserves to adequate levels;
- Bitcoin fell to $85,500, resulting in $400 million liquidated within 4 hours;
Market Review
After several days of rebound, a wave of liquidations caused a drop to the weekly support near $85,500. As of now, Bitcoin's low point is at $85,088, and Ethereum's low point is at $2,871. Originally in a volatile trend, the market quickly dropped last night, liquidating long positions, with data showing $400 million liquidated in 4 hours;
Market Analysis
Bitcoin
Previously, Bitcoin faced multiple pressures around $94 and failed to break through effectively. Our previous thought was to look towards $98 after breaking $94, but the market did not provide a breakthrough. Those who had long positions set up earlier had an opportunity to exit around $94, with a profit of over 3,000 points. Those who did not exit in time would have been stopped out. From the chart, the daily line has failed to break above $94 several times, and as of now, it has dropped to around $85. This position serves as the weekly pullback support, where the previous long positions were set up. Now, if it can hold again, those looking to set up long positions can do so, and those already in can continue to hold. In the short term, the market has not broken below the low of $83,777, which suggests a rebound is likely. The daily line currently shows a pin bar formation, indicating that a short-term rebound is quite possible. Long positions can be directly set up, with a stop loss suggested at $84,000 and a target range of $90,000-$91,000. Please manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses;
Ethereum
From the daily chart, Ethereum has also not broken below the short-term low of $2,718. The support around $2,750 is also the weekly support. As Bitcoin touches support and begins to rebound, Ethereum will follow suit. Therefore, we will not look for Ethereum to continue to test the $2,750 area. The smaller 4-hour chart is also starting to form lower shadows, indicating that short-term bottom-fishing opportunities are emerging. It is recommended to set up long positions around $2,940, with a stop loss at $2,840 and an initial target of around $3,170, which is a minor resistance. If it can break through, look for the range of $3,220-$3,320. After reaching this level, pay attention to the strength of the rally, which may have the potential to reach around $3,510. Please manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin is under pressure and has dropped to support, presenting a short-term bottom-fishing opportunity;
The article is time-sensitive, please be aware of the risks. The above is only personal advice and for reference only!
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In the cryptocurrency world, some people's demands can only be met by scammers. Everything cheap must be taken advantage of by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every trade goes as planned. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I pay more attention to psychological development. Most people do not fail against others but against the self that confines them in a room. Even if life or trading is not satisfactory, believe that there is light in the world and love among people. Even a small piece of happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, people in the crypto world.
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