12.1

A new week, a new month, starting with an hourly level big bearish candle, wiping out a week's gains. The weekly level correction is quite decisive, with Bitcoin down 3.5% and Ethereum down 5.5%. Today, it is more suitable to short at highs, and key positions can also be tested for longs. If there is support at the weekly correction, one can enter. The weekly pullback is also the monthly line probing the bottom first; as long as the previous low is not broken, this may become the last washout. If the previous low is broken, it will need to probe the bottom again. The size of the long space depends on the Federal Reserve's room for rate cuts. Currently, liquidity is facing exhaustion, and often small funds can stir up big waves. There are needles everywhere, moving after a sideways trend, then going sideways again. The continuity is very poor.

Bitcoin: Sell on highs during the day, buy at major support levels (such as above the 4-hour range). The key focus today is whether it can break below last month's adjustment low, which is of utmost importance. The bearish strength in the morning was particularly strong, especially with a drop of 3000 points in 1 hour, exceeding expectations. If a long bottoming tail appears on the 15-minute chart or above, a long position can be attempted.
Support: 85000, Resistance: 91500