12.4 Wednesday Bitcoin Afternoon Silk Road:

Bitcoin rose to around 96500 in the morning before starting to decline, dropping nearly 1000 points before beginning to consolidate sideways, with clear lack of upward momentum.

From the current market trend, prices are fluctuating within a consolidation range, indicating a tug-of-war between bulls and bears. Although prices briefly rebounded to around 96000, this seems to be just a temporary bounce and has not changed the overall downward trend. On the technical side, the 4-hour chart shows prices hovering near the midpoint of the range, yet bears still dominate, suggesting that prices may break downward from the current consolidation range in the short term. It’s still true that what goes up must come down; in the afternoon, Lao Yu is optimistic about a pullback, and aggressive traders may short at the current price.

Wednesday Afternoon Trading Suggestions:

Bitcoin: Short near 96500, target 94000