12.16BTC Early Morning Analysis and Forecast
From the market, it can be seen that BTC quickly retraced after rising to a high point of 89972.4, with a minimum drop to 86563.6, followed by a slight rebound to 86951.9, presenting a weak rebound pattern after a sharp decline. This round of sharp decline broke the previous oscillating upward rhythm, with increased trading volume during the decline and shrinking volume during the rebound phase, indicating that the bearish selling pressure has not yet been fully released. The bulls are only making slight low-position purchases, and the short-term bears dominate. 86563.6 is the low point of this decline, and 87000-88000 is the key resistance zone for a short-term rebound, while 86500 is the core support level. In the early morning, bulls and bears will compete around these two ranges.
BTC will oscillate and consolidate in the range of 86500-87500 in the early morning. The logic is that after a sharp decline, the market needs time to digest the selling pressure, and the trading activity of cryptocurrencies decreases in the early morning, making it difficult for funds to push prices to form a significant one-sided trend. The forces of bulls and bears are temporarily stalemated, and prices will repeatedly test support and resistance around the low points.
Operational Suggestions: A stable rebound after a pullback to 86000-86500 can allow for light long positions, with a stop loss at 85500 and a target near 87500. If it breaks through 87500 with volume and stabilizes, BTC is expected to rebound to 88000-88500.
If it effectively breaks below 86000 (closing price below this level and with volume), BTC will further test the 85500-85000 area.
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