Good morning, friends. During the Christmas holiday, market trading was quiet. Bitcoin briefly surged to 88,500 before pulling back, currently oscillating lower along with Altai.
On the four-hour chart, Bitcoin briefly broke through the midline with a large bullish candle, but then continued to close with bearish candles, indicating intense battle between bulls and bears. The price remains in a triangle convergence pattern. Without new positive catalysts, it is expected to continue weak oscillation. The hourly chart shows overbought conditions after a rapid rise, followed by consecutive bearish candles giving back gains, bringing the price close to the midline again. Both KDJ and MACD indicators show signs of weakening, with a higher probability of downward breakout. Short-term trading suggestions are mainly bearish, and traders can consider short positions on rebounds at higher levels.
Bitcoin range: 87,400-87,900, target around 85,100 Altai range: 2,920-2,940, target around 2,780
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12.26 Friday Morning BTC/ETH Sharing
Good morning, friends. During the Christmas holiday, market trading was quiet. Bitcoin briefly surged to 88,500 before pulling back, currently oscillating lower along with Altai.
On the four-hour chart, Bitcoin briefly broke through the midline with a large bullish candle, but then continued to close with bearish candles, indicating intense battle between bulls and bears. The price remains in a triangle convergence pattern. Without new positive catalysts, it is expected to continue weak oscillation. The hourly chart shows overbought conditions after a rapid rise, followed by consecutive bearish candles giving back gains, bringing the price close to the midline again. Both KDJ and MACD indicators show signs of weakening, with a higher probability of downward breakout. Short-term trading suggestions are mainly bearish, and traders can consider short positions on rebounds at higher levels.
Bitcoin range: 87,400-87,900, target around 85,100
Altai range: 2,920-2,940, target around 2,780