After reaching an all-time high of $108,353 on December 17, Bitcoin has been declining for half a month, with occasional rises that have been unable to break the downtrend. At the time of writing, it has slightly rebounded to $95,005, marking a 1.38% increase in the last 24 hours. From the charts, it's evident that the price has broken out of the upward channel (indicated by the purple channel), and during this slow decline, trading volume has decreased. Although this might be due to the Christmas holiday leading to reduced trading activity, it also signals a weakening in technical terms. If there's a retest after this price drop, it could present a good entry opportunity. The expected retest level is around the Fibonacci 0.618 level, approximately $98,000. Here are some reference points for short positions:

• Entry: $98,000 - $98,500

• Take Profit: $85,000/$83,200/$81,300

• Stop Loss: $100,000-$101,000

ETH

Like Bitcoin, Ethereum began to decline after failing to break through $4,100 on December 17. After breaking the trendline on the 19th, it fell to around $3,100. Since then, it has entered a consolidation phase, with prices fluctuating between $3,300 and $3,450 in recent days. This rectangular formation has persisted for nearly a week, with quick rebounds suitable for short-term trading. Here are some key levels to watch:

Long:                   

• Entry: $3,330

• Take Profit: $3,420

• Stop Loss: $3,299

Short:

• Entry: $3,420

• Take Profit: $3,330

Stop Loss: $3,460

SOL

Solana has shown relative weakness recently, slowly declining after failing to break through its channel. The price has found support at the ascending trendline, which also coincides with the Fibonacci 0.382 level, adding to the technical significance and indicating that the upward momentum, although weakened, still exists. Currently, the price is in a consolidation phase. For readers considering entry, you might opt for a market buy with a stop loss below the Fibonacci 0.382 level, i.e., at $175, and set a take profit target at $325.

$165 Million Liquidated Across All Exchanges in the Past 24 Hours

According to CoinGlass data, a total of $165 million worth of positions were liquidated across all exchanges in the past 24 hours, with over 69,000 traders getting liquidated. Long positions accounted for $70 million, while short positions accounted for $95 million. This figure is relatively low, indicating a lack of significant market activity.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.