12.10 Bitcoin Morning Analysis

Bitcoin saw a strong surge overnight, directly breaking through to around 94,500. Unfortunately, it failed to stabilize and continue rising. After consolidating sideways, it moved downward in the early session. The short position from midnight exited the swing at 1,700 points.

On the daily chart, the price is under pressure after touching the upper band. For a sustained breakout in the short term, more momentum is needed. With large price fluctuations now, whether going long or short, try to find suitable support and resistance levels.

On the four-hour chart, after breaking out and reaching a high, a double-top resistance has formed with the previous high. Currently, two consecutive bearish candles indicate a continued pullback is likely within the day, so a minor intraday rebound can be used to enter short positions.

Look for bearish opportunities around the 92,600-93,000 area above. The first target is the 91,000 level, and if it breaks, the second target is around 88,000#BTC #ETH