12.12
The bullish momentum of Bitcoin is weakening, and it is advisable to short first and then go long during the day.
From the current market structure analysis, the four-hour K-line has formed a continuous upward trend, with prices consistently operating close to the middle band of the Bollinger Bands.
This position bears multiple resistance pressures, and the intensity of resistance is prominent, making the probability of effectively breaking the middle band resistance low in the short term.
Switching to an hourly cycle for observation, the MACD dual lines are gradually approaching the zero axis and are brewing a golden cross, with bullish momentum showing a moderate release trend, but caution is needed for the technical pullback risk caused by indicator adjustments.
Combining the resonance signals of multiple technical indicators, the current market suggests focusing on short positions.
Bitcoin is hovering around the rebound level of 93500, with short positions near 94600, targeting around 91000 and 89200.
