On December 6, BTC continued to oscillate downward. As of the morning of that day, the current price fluctuated around $89,000, with a decline of over 3% within 24 hours, briefly falling below the $88,000 mark, reaching a high of $92,670 and a low of $87,975. The total liquidation amount across the network in 24 hours reached $425 million, affecting over 130,000 people.
From a fundamental perspective, global market sentiment is cautious, with unclear Fed policy direction, geopolitical instability, and capital flowing towards safe-haven assets like precious metals, which has diminished BTC's attractiveness as a risk asset. Moreover, it has continued to decouple from U.S. stock trends, cumulatively falling 3% this year despite the rise in U.S. stocks. Technically, there are clear bearish signals, with daily charts in a downward channel, prices operating below the moving average system, and moving averages forming a death cross that reinforces the bearish trend. The four-hour K-line has shown a 'Three Black Crows' pattern, with MACD bearish momentum increasing, and the DIF and DEA forming a death cross that is spreading. The lower Bollinger Band support has broken down to around $84,000.
In the short term, the rebound is weak and under pressure, with the $91,000-$92,000 range forming a key resistance level; every rebound to this area has been suppressed. For support, the $83,800-$84,000 range is an important threshold, and if broken, it may continue the downward structure. Caution is advised in operations, and in the short term, one can pay attention to oversold rebound opportunities around $88,000, with a stop-loss reference at $87,000 and an upward target towards $91,000. Bears can layout in the $91,000-$92,000 range, strictly setting stop-losses to avoid risks from sudden market volatility, with specific strategies needing to be adjusted based on real-time market conditions.
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