Bitcoin has been continuously rising in recent days. Last night, it directly stabilized above the 27,000 mark and reached as high as 27,400 before being pressured to fall back. There was also a certain amount of decline in the early morning. Yesterday, we also participated in the rebound and shorted according to the strategy, and gained profits from both the rise and fall. However, the current increase has not been sustained. We shorted near 27,400 yesterday, and as expected, the price fell back to around 26,633, gaining more than 700 points. This kind of market can be said to be profitable as long as you have a strategy.

From the current market situation, the short-term trend is not sustainable. The daily closing price is still below the upper Bollinger band, and the moving average still shows no signs of divergence, so the bulls do not have sustainability, and yesterday was just a trap for the bulls. In terms of the market environment, the bulls have not shown a strong one-way trend as the New Year approaches. The four-hour chart also shows a continuous decline, indicating a weak trend. In summary, it is advisable to continue shorting.

It is recommended to short near 26,800-27,000 for Bitcoin and 1,640-1,660 for Ethereum.

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