12.15 Bitcoin Morning Strategy

The weekend market features "low liquidity and weak volatility". After two consecutive bearish daily candles, Bitcoin has entered a narrow range of fluctuations. However, behind the fluctuations, the bearish structure continues to strengthen, with clear signals of a weakening short-term trend. The main tone remains bearish despite a lack of strength in the rebound.

The core logic of the market is clear: the daily price remains under pressure below the short-term moving averages, with rebounds repeatedly encountering resistance around the 90000 level and then falling back. Additionally, the outflow of institutional funds over the weekend has led to a 38.7% decrease in trading volume compared to normal days. Bulls lack incremental funding support, making effective recovery difficult. Technically, the outlook is entirely bearish: after the KDJ indicator formed a dead cross at a high level, it has continued to diverge downwards, solidifying the weak short-term pattern. Although the MACD still has residual red histogram bars, it is deeply entrenched below the zero line, and bearish momentum has not decreased. Coupled with the downward expansion of the Bollinger Bands at the one-hour level, the signal for a continuation of the downtrend is clear. More critically, the price has already touched a low of 87967 USD yesterday, and the support at the 88000 round number is precarious, with signs of panic emerging as over 110,000 people have been liquidated, further amplifying bearish momentum.

In terms of resistance and support, the 90000-90500 range above is a significant resistance area where the mid-band of the Bollinger Bands overlaps with the previous fluctuation platform, along with the "magnet effect" of the CME futures gap, making it extremely difficult to break through on a rebound. Below, 88000 serves as the current dividing line between bulls and bears. A valid breakdown will directly open up downward space towards 85000, and on-chain data shows that retail investors are holding their positions, while institutions have not significantly increased their holdings, limiting the strength of support.

Bitcoin: Enter around 90000, target down towards 88000, and if it breaks, look towards 85000. #加密市场观察 $BTC $ETH