12.23
#BTC☀ Market Analysis
From the daily perspective, market sentiment is bearish. The market has closed lower for two consecutive days over the weekend, the Bollinger Bands are expanding, and the price is operating between the middle and lower bands. Both KDJ and MACD indicators have crossed downwards, showing a clear bearish trend on the daily indicators.
The four-hour cycle shows that the three lines of the Bollinger Bands continue to decline, and the price rebound is hindered by the middle line, which continues to exhibit a suppressive state. The three lines of the KDJ have crossed downwards again, and the MACD lines are also moving downwards, accompanied by slight volume increase. Overall, the trend continues to be bearish.
Comprehensive Analysis
The current market shows a dominance of bears, and no signs of a bottoming out have appeared, therefore it is not advisable to attempt bottom fishing at this stage. Short-term trading is recommended to focus on shorting during rebounds, and only consider entering long positions after clear signs of a bottom have appeared in the market.
Key Levels to Watch
Upper resistance levels: 96000, 97500, 99600, 101000
Lower support levels: 93200, 92000, 90700
BTC Trading Strategy for December 23
Short Position Ideas:
Aggressive traders: Short on rebounds near 96000, with a stop loss at 98000, targeting 95000-94000, with a breakout level at 93500-93200.
Conservative traders: Short in the 97000-97500 range, with a stop loss at 98000, targeting the same levels as above.
Long Position Ideas:
Attempt to go long with a light position near 93000, with a stop loss of 600 points, targeting 93500-94000-94500-95000, holding on breakouts and adjusting flexibly according to market conditions.
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