Morning of December 8

From the perspective of the 1-hour K-line cycle and technical indicators, BTC's short-term trend shows characteristics of oscillatory correction. It is currently between the middle Bollinger Band at 89837 and the upper band at 91574. The middle band forms short-term support, while the upper band constitutes resistance. Overall, it is in a strong oscillatory range above the middle Bollinger Band. Previously, there was a rapid surge, reaching a high of 91722.00 before pulling back, forming a spinning top and bearish candlestick combination, indicating significant selling pressure in the 91500-91700 range above. During the pullback, it did not fall below the previous low of 87688, and then a bullish candlestick rebounded, representing a correction pattern after confirming support.

The KDJ indicator's three lines, with the J value previously breaking above 100 in the overbought area and then turning downward but still remaining above 50, indicate that short-term bullish momentum has weakened but has not yet entered a bearish zone, which is a signal of oscillatory adjustment. The MACD histogram has narrowed but remains positive, suggesting that the medium-term bullish trend remains intact, and the short-term is merely digesting upward momentum.

In the short term, the 1-4 hour cycles are likely to maintain oscillation within the 89800-91700 range. The upper resistance is at 91500-91700 (Bollinger upper band + previous high); the lower support is at 89800 (Bollinger middle band) and 88100 (Bollinger lower band). If the price holds above 91000, it is expected to test previous highs again; if it breaks below 89800, it will likely retest the 88000-88500 range. It is recommended to take light positions near the 91010-91989 area on rebounds, with targets around the 89225-88343 area.

The above is just a personal suggestion for reference only. Please refer to Haoyu Shipan's specific layout for actual operations! $BTC ‌#btc