Bearish trap? Bullish trap?

Bitcoin 12.8 Intraday Analysis

Last night's Bitcoin movement was quite exciting, first there were consecutive small bearish candles followed by a large bearish candle, which brought the price near 87700. After that, there was a continuous rise to 91700, an increase of 4000 points. The current price is still stable above 90000, but as I mentioned before, 90000 is not a resistance level, so even if it stabilizes at this position, it doesn't prove much.

From the hourly chart, Bitcoin's movement last night was a series of ups and downs, currently at a midpoint between ups and downs. From a short-term hourly perspective, the upper resistance is at 91500, and the lower support is at 88200. During the day, we can initially operate on a short-term basis, and after the evening session starts, we can make long-term plans once the specific direction is clear.

During the day, Bitcoin can first short near 91200 with a target of 88800.

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