On December 12, Thursday, Bitcoin evening market analysis!
From a technical structure perspective, on the four-hour level, the running channel maintains a narrow downward continuation trend, with prices oscillating and weakly declining, without forming a significant rebound. The volume is arranged in a weak bullish form, and the moving averages consistently trend downward, indicating a bearish dominance in the short cycle.
On the daily level, the running channel continues to trend downward, with prices maintaining a weak consolidation. In the middle to upper range, after a plunge, there is no effective rebound, and bearish volume continues to shrink. The moving averages have not seen a significant joint upward movement. Personally, this week I still favor a bearish approach first, and whether the market can rebound and recover will need to be followed up after confirming support.
Personal trading suggestion for Bitcoin: Short near 100700-101000, with a target of 100500-100000. If it breaks, continue to look downward!
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