December 31

Currently, Bitcoin is oscillating around 88,387. The short-term trend is leaning towards a rebound with sideways movement, but there is obvious resistance above, and caution is needed for the risk of a pullback after a rally; the price first experienced a sharp decline, touching a low of 86,760, then formed a V-shaped rebound structure. The current K-line is gradually rising along the short-term moving averages, showing a small bullish candle with a sideways upward trend, which is a correction pattern after a decline.

It has rebounded from the lower Bollinger Band to the middle band area, with the upper band at 88,938.5 forming short-term resistance. If it cannot break through the upper band, it is likely to oscillate between the middle and upper bands.

The KDJ indicator is above 50, indicating a relatively strong zone, but the J-line has not entered the overbought zone (above 80). There is still some room for a slight upward movement in the short term. However, if the J-line turns downward later, caution is needed for a pullback.

The MACD is in the increasing red histogram phase, indicating that short-term bullish momentum still exists, but the magnitude of the red bars has not significantly enlarged, so the bullish strength is not very strong.

Optimistic scenario: If the price stabilizes above the middle Bollinger Band and breaks through the upper band at 88,938.5, it is expected to challenge the previous high of 89,355.0, further opening up the rebound space.

Cautious scenario: If it fails to break through the upper band resistance, the price is likely to oscillate within the 87,698 - 88,938 range, or even test support near the lower band; once it breaks below the previous low of 86,760.0, the short-term rebound trend will be broken.

The above is only personal advice for reference and does not constitute investment advice.