Early review on 12.11, short on the rebound, mindless short
Bitcoin surged to 94500 in the early morning but quickly fell back under pressure, now breaking below the rebound high of 90500 and gradually declining. This trend directly reflects the weakening bullish momentum, with heavy selling pressure above.
From a technical perspective, the 4-hour moving averages show signs of a bearish arrangement, and the RSI indicator has dropped below the 50 mark, indicating the market has entered a weak range. Coupled with the volume-price characteristics of reduced volume on the rebound and increased volume on the decline, bearish strength is continuously strengthening. The previous low support at 91900 has been broken, and next is the short on the rebound, mindless short.
The target for Bitcoin is down to 89000, long-term 86000-78000. The target for altcoin is down to 3190-3000, long-term 2700-2500.
