Midday Update. Yesterday, Bitcoin and Ethereum basically moved sideways, with candlestick charts piling up as if nothing was happening. However, meme hype has heated up again these days, so I need to remind everyone—avoid if you can. Each hot trend usually lasts only a few days; rushing in without timely exit might end up with you handing over the bag to others. As the New Year approaches, the big players also need to find ways to cut leeks and make money to get through the days. Let’s see who can be smarter.

From a technical perspective, Bitcoin has held above the 893 level without breaking down, indicating that the bullish pattern is still intact. If there’s a chance for a downward test on the small timeframe today, it’s better to stay long. Trading around the 893-896 zone for longs, and the 92000-91600 range is suitable for shorts. For Ethereum, consider short positions around 3145, and longs around 3065.

Sunday night usually sees some volatility; the key is to follow the rhythm of shorting at intraday highs and going long at lows. Without clear news-driven surges or crashes, sustained moves are difficult, so as long as your position management is proper, even extreme market conditions can be handled.

Pay attention to these key levels: For Bitcoin, if it can stabilize above 907 on the 1-2 hour chart, then the rebound has strength. Resistance levels are at 92000, 93400, and 94750. Conversely, if the small timeframe gets stuck below 907 and can’t break above, it indicates weak rebound momentum. In case of a decline, watch support levels at 89300, 88150, and 86640.

For Ethereum, keep an eye on the 3100 level. As long as it can hold above this on the 1-2 hour chart, the rebound space is open.