Matrixport: Bitcoin has stabilized in the short term, and sentiment remains cautious before the meeting

Matrixport released a daily chart analysis saying that as the FOMC meeting on December 10 approaches, market sentiment is highly concerned about relevant policy signals. Although the price of bitcoin has stabilized, it is difficult to regard it as a new round of rising prices for the time being.
Option pricing still implies about 5% downside space, and funds are still hedging the risk of pullback. Under the rhythm of generally reducing leverage and positions at the end of the year, the short-term rebound is more used as a window for reducing positions, rather than a new signal for adding positions.
From a seasonal perspective, market liquidity is often tight around Christmas, and the sustainability of the rising market is easily suppressed. The current long-short watershed is roughly at the $91,500 line. From a probability perspective, the benchmark scenario is still that volatility continues to converge, and the possibility of a strong breakout directly after the FOMC is relatively limited.