#以太坊行情技术解读 December 12th BTC midday market overview

**Core Logic Analysis**

The macro situation is quite tangled—although the Federal Reserve cut interest rates, their stance isn't entirely friendly, carrying a "hawkish" tone. The Bank of Japan has also signaled a hawkish outlook, which has startled global risk assets. BTC surged past 94,000 after the rate cut news, then retreated, with the 93,000-94,000 level acting as a significant resistance.

From a technical perspective, the market looks somewhat weak—daily top divergence has been confirmed, and the 4-hour MACD has also formed a death cross, indicating that the short-term upward momentum is nearly exhausted. On the support side, the 88,000-89,000 zone is a convergence of multiple indicators, providing decent support.

Market liquidity signals are more straightforward: ETF inflow has noticeably slowed, spot CVD remains negative, and long liquidation ratios exceed 85%. The pressure on longs is not fully released yet, which is a hidden risk.

**Market Outlook**

In the short term, expect a sideways to slightly weak trend, mainly oscillating within the 90,000-93,000 range. Until there is a clear breakout signal, the market will likely cycle between pullbacks to test support and rebounds encountering resistance, making a one-sided trend unlikely.

**Trading Strategy**

For shorts: Enter between 92,500-93,000, but with caution. Place stop-loss at 93,500; if this strong resistance is broken, consider reversing the position. First target is 91,000 (yesterday’s low); if broken, then look at the 90,000 level.

For longs: Be cautious—only consider entering if support at 90,000-89,000 is firmly held, with stop-loss below 88,500. Target around 91,500-92,000, and take profits when gains are realized, avoid greed.

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