Liangqiu: 12.10 Bitcoin/Ethereum long positions see gains and take profits; evening continues to watch for sharp moves up and back down

Following last night’s sharp rise and pullback in Bitcoin and Ethereum, after reaching high levels, the strategy for the white session was to build long positions around 91,500 to 92,000 and near 3,290. Bitcoin led the weakness with limited room to run higher, while Ethereum repeatedly surged to around 3,370 and 3,340, also capturing some gains. Currently, all are waiting for the early morning interest rate decision data. During today’s multiple attempts to push higher, the highs have been steadily declining, indicating a weakening trend. Additionally, Bitcoin and most altcoins are mostly retracing. Yesterday’s rally seemed more like an early profit-taking move. Resistance at around 95,000 and 3,400 still exists. Long positions should be taken profits when gains appear; if prices push higher tonight, further short entries are possible.

Evening trading suggestions: Short Bitcoin around 92,300 to 92,800, with a target near 90,500; short Ethereum around 3,340 to 3,360, with a target near 3,260, and if broken, continue to watch for 89,000 and around 3,180.

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