12.18 Intraday Analysis

Bitcoin surged yesterday, breaking through the $90,000 resistance level but failed to sustain the rally, quickly falling back to around $86,200, with a daily decline of 1.90%. The short-term bearish trend is clear.

From a technical perspective, the 1-hour chart shows the price breaking below the EMA moving averages, the Bollinger Bands narrowing and moving downward, with the price running along the lower band, indicating a dominant bearish trend; the MACD lines continue to weaken below the zero line, with no signs of shrinking green bars, suggesting that bearish momentum has not yet diminished.

Trading suggestion: rebound to 86,800-87,500🈳, buy at 88,000, target lower at 85,200-83,500.
Sentiment: rebound near 2,860-2,920, target lower at 2,800-2,730.
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