12/16 BTC Afternoon Operation Analysis
Bitcoin stabilized at the position of 85000 after a significant drop yesterday, and then fluctuated and rebounded to 86500 but couldn't rise further. The fluctuations were only around 1500 points, and the upward momentum is getting weaker. In the short term, bears still dominate, and the price is oscillating around 86000. From a technical perspective, in the 4-hour chart, the price has been pressed by the middle line of the Bollinger Bands, and it has fallen below the lower line of the Bollinger Bands several times. All three lines of the Bollinger Bands are moving down, indicating a clear bearish trend; the MACD indicator has also been below the zero axis, with the red bars initially lengthening and now starting to turn downward, indicating that the bearish strength is still being released, and the short-term outlook is still bearish.
Operation Suggestion: Positioning bearish in the range of 86500-86800
Target looks at 84000-84500. $BTC
