Analysis of Bitcoin Trading Strategy on the Evening of December 16

In the ocean of the stock market, everyone is a navigator. Faced with turbulent waves, we may feel confused or exhausted, but please remember that every low point is preparing us for the next high.

After the price of Bitcoin surged and then retreated, it has formed a consolidation pattern in a specific area, facing strong resistance near the 106600 level. From a technical indicator perspective, including RSI, there are signs of downward pullback, and the converging flag pattern has intensified the expectation of a decline. Therefore, the short-term trading strategy will focus on high shorts and low longs. If the price drops to the target area and does not show strong continuation strength, we can consider entering a long position.

Trading suggestion: Short at 105800-106200 with a target of 103500. If it breaks below 103000, then continue to look towards 101000. If it does not break, consider reversing to long.