Bitcoin briefly broke through the $86,000 mark in the early session but quickly regained ground, indicating certain buying support in this range. Currently, it maintains a narrow fluctuation between $86,000 and $87,500, with long and short positions focusing on the $87,000 integer level.

In the past 30 days, the selling scale of long-term holders has reached one of the highest levels in over five years. This is widely regarded as early investors realizing profits at historical highs.

Technical Aspects

Daily Level: The RSI indicator remains around 40, in a neutral to bearish range, with the lower Bollinger Band providing support but the upper moving average dead cross significantly suppressing, showing weak rebound, overall presenting a bearish arrangement.

Four-hour Chart: The MACD shrinking operation hints at a short-term technical repair demand, but the RSI is nearing the overbought zone, raising doubts about the sustainability of upward momentum.

12.18日$BTC

Bitcoin: Bearish in the $87,500-$88,000 range, looking at $86,900-$85,300 Stop loss at $88,500