"December 9 Market Analysis: Continued Consolidation, Time to Buy the Bottom"

Yesterday’s market volatility was not significant. On the daily chart, further consolidation is needed to allow for indicator correction and to prepare for the market in January. The opportunity for another pullback here is the time for us to build positions, as we need to prepare in December for the final bull trap on the weekly chart in January—meaning after this pullback, we should complete our position building in advance.

At the same time, after another drop, it will also be the last chance for spot holders who are trapped to average down. If your spot cost is high, you must dare to buy more after this pullback; this is the only way you might break even and exit during the January weekly bull trap. If you don’t break even and exit now, the next chance could be years away!

$BTC BTC’s short-term support today is around 88,100. If there’s a rebound and it drops again to the 85,900–85,200 range, you can start building long positions. Meanwhile, around 87,100 is a possible wick area, and there is resistance above at 93,400.

$SOL SOL pulled back to around 140 as mentioned yesterday. If it drops again, we should focus on 125.8 and 124. If you are holding spot positions stuck above 120, you must consider averaging down; otherwise, your entry price is too high and it will be hard to break even.

$ETH For ETH, focus on three support levels: 2,955, 2,865, and 2,805. The rebound strength may increase step by step. It’s hard to see pressure at 3,282 until the hourly downtrend line is broken. In the short term, just focus on this downtrend line.

In summary, the task for December is still to wait for the consolidation bottom to build long positions in advance. For this final weekly bull trap, we just need to follow the big players and get a taste of the action, and there may be an even bigger long-term downtrend waiting for us at the end of Q1 next year. Don’t blow all your “bullets” before the major trend arrives! If you can’t read the market or are uncertain about the direction, join the Section Chief. Click to join the Section Chief community (follow for the latest daily market analysis and precise wick points; long and short ideas are for reference only—always use strict stop-loss and take-profit strategies). #Join the Creator Certification Program to earn $10,000 per month