As long as there is tomorrow, today will always be the starting line. If the heart has no place to rest, it will wander everywhere. Smart people understand, shrewd people see accurately, and wise people look far. Do not be amazed by this market; let this market be amazed by you!

As usual, let's review the market trends and operations. As expected, after a weak surge, the market chose to pull back and adjust again. After consistently failing to break above 100,000, it faced selling pressure and ultimately dropped to around 95,200. Our high-position short positions in Bitcoin and Ethereum both made profits.

First, as always, we maintain our old viewpoint. It is clear that we have always believed the current market is in a washout phase. Regardless of the short-term fluctuations, it is currently a trend of washing out. We have also emphasized that from a macro perspective, with the upcoming leadership of the new administration next year and its attitude towards the crypto market, at least from now on, it supports a further positive trend for Bitcoin. This is what we refer to as witnessing the historical Bitcoin, which should be a consensus among most market participants, undoubtedly existing.

Second, why do we say it is currently a washout? It is simple. As mentioned before, from the perspective of market capital flow, after breaking 100,000, there was some selling of early profits, causing the market to lack further momentum. As a chain reaction, the high-priced coins needed a correction. Coupled with the negative impact of the Federal Reserve's interest rate decision, it achieved a more ideal washout effect. After all, the rally that started in November cannot continue to rise endlessly; this does not conform to market operation rules.

On the four-hour level, it is quite evident that a large fluctuation area has formed, which we have discussed before, involving a previous high point and a previous low point. Currently, the four-hour chart shows a trend of back-and-forth movement. The previous two dips near 92,000 formed support. For now, 92,000 remains very important. If it dips below this support, the short-term market will need more time to regain momentum for a breakthrough, and the time cycle for further market movement will need to be extended to attack historical highs.

In the short term, on the four-hour cycle, after dipping to around 95,200 yesterday, it is currently in a slight fluctuation around 96,200. From a technical perspective, the current short-term support to watch is around the previous rise point of 94,000, while the short-term resistance is around 96,800. Operations can be arranged based on these two positions for short-term trading.

For Ethereum, the short-term support is around 3,220, and the resistance is around 3,440, which can be used for trading arrangements.

Regarding altcoins, based on the current on-chain data, the narrative is still focused on AI and the types of coins backed by institutional whales we mentioned earlier. In the past couple of days, other coins have not performed well. This round of altcoins is the same as before. If there are opportunities for overselling, it is still possible to pick up some bargains and look for chances of a rebound from overselling!

[The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and market conditions change in real-time. The information may be outdated, and specific operations should follow real-time strategies.]

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