It has started again, with higher trade volumes and a big dump. The trading volume for short positions in the four-hour chart exceeded $3.3 billion, and $550 million in long orders got liquidated in the 12-hour chart. From the daily chart, after a week of lower trading volume rebound touching the middle band of the Bollinger Bands, short positions continue to make a strong push. Ethereum fell over 230 points, and Bitcoin dropped 5000 points. There is no significant bottom divergence in the daily MACD. Given the current strength, it is difficult to form a double bottom and resonance bottom pattern with bottom divergence. Do not easily attempt to buy the dip and go long. #December Market Outlook
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It has started again, with higher trade volumes and a big dump. The trading volume for short positions in the four-hour chart exceeded $3.3 billion, and $550 million in long orders got liquidated in the 12-hour chart. From the daily chart, after a week of lower trading volume rebound touching the middle band of the Bollinger Bands, short positions continue to make a strong push. Ethereum fell over 230 points, and Bitcoin dropped 5000 points. There is no significant bottom divergence in the daily MACD. Given the current strength, it is difficult to form a double bottom and resonance bottom pattern with bottom divergence. Do not easily attempt to buy the dip and go long. #December Market Outlook