12.12 Morning Analysis of Bitcoin Market Trends

Last night, we reminded that given the CPI data, the price of Bitcoin might continue its rebound trend, and we seizing the opportunity to follow the bullish continuation. The movement of Bitcoin perfectly aligned with our expectations, indeed showing a rebound trend.

Looking at today’s market analysis, after a midnight surge, the market faced resistance and then entered a phase of adjustment and repair, displaying a state of oscillating downward. However, the decline is not significant, and the bears have not shown any clear increase in volume.

From an hourly perspective, Bitcoin has continuously closed with bearish candles, exploring the support levels below through pullbacks.

Next, we should focus on the support strength at the critical level of 99600, which is not only the lowest point from last night's pullback but also the position of the middle line of the Bollinger Bands.

If the price cannot stop the downward trend here and recover, combined with the impact of market sentiment and other factors, it may trigger a new round of significant correction, plummeting like a waterfall. The morning layout operation can focus on going long on pullbacks to the low points.

Bitcoin Trading Suggestion: Go long in the range of 99600 - 100000, aiming for a target price of 102000.