December 23 BTC/ETH Analysis:

The dual collision of the Christmas holiday and options expiration!

The overall trend is still relatively weak at the moment. The increase in liquidity from yesterday's Federal Reserve repurchase agreement was also limited. The highest rebound for BTC was 90500 before retreating, which is also the position we were anticipating. In the last 24 hours, there was a liquidation of 160 million in the market, and overnight, the open positions for BTC decreased by 3 billion and for ETH by 2 billion, indicating a renewed liquidity crisis. The market is maintaining a wait-and-see attitude towards the volatility from the expiration of year-end options on Friday!

BTC
Currently, the small-level moving averages are entangled, trading volume is decreasing, and the gradually diminishing liquidity indicates insufficient market momentum, making it difficult to break out of a one-sided trend. Overall, the market is in a range-bound oscillation structure, with prices under pressure at the midpoint of the daily chart, likely to make a second downward test, primarily focusing on rebound highs.

In the range of 8860-8900, the target is to break below 8750 and look towards 8660-8510.

ETH
Around the range of 2995-3018, the target is to break below 2970-2928 and look towards 2900.

Short-term trading is flexible and changes, with defense determined based on the actual situation of one's position! #Gate社区圣诞氛围感