December 11 Market Analysis
Recently, the market has been experiencing fluctuations. Bitcoin surged to around 94,000 in the early morning before pulling back and is currently consolidating near 92,000. The 2,000-point correction has not effectively continued, and bullish sentiment still prevails.
From a technical perspective, the 4-hour chart shows that the market is in the adjustment phase after a rise. The bearish momentum is weak, and the pattern of more bullish candles than bearish ones has not changed. This round of pullback is a normal technical adjustment and not a trend reversal. In terms of operations, rely on support levels to establish low bullish positions.
Operation Suggestion: Establish low bullish positions near 90,400-89,600, with targets at 91,500-92,500. If it breaks through, continue to look at levels above 93,000.
