Bitcoin first broke the $100,000 mark on the 5th, reaching a high of $104,088, setting a new historical high. However, this historical high price did not last a day, as Bitcoin began a new wave of decline at 11 PM last night, and around 4 AM today, it dipped to $97,888, officially returning to five-digit pricing. By around 6 AM today, Bitcoin flashed crash down to a low of $90,500, and as of the drafting time, it rebounded to $97,871, down 1.66% in nearly 24 hours.


On the other hand, during this wave of decline, the market can be described as a 'double kill' for both bulls and bears. According to data, in the past 24 hours, the total liquidation amount in the cryptocurrency market reached $1.08 billion, with long positions liquidating at $812 million, accounting for the majority, and short positions liquidating at $270 million, affecting over 211,000 people.

First, based on the Bollinger Bands indicator on the 4H level chart of Bitcoin, the price made a rapid breakthrough above the upper band and then fell sharply, currently returning to oscillate near the middle band but has not effectively stabilized above it. The market may continue to seek support near the lower band.


Secondly, according to the KDJ indicator on the 4H level chart of Bitcoin, the K line and D line have rapidly declined from high levels, and the J line has entered the oversold area. The K line and D line have not formed a clear golden cross. If the K line and D line turn upwards and form a golden cross, there may be a short-term rebound opportunity, but if they continue to hover at low levels, it can be considered that the adjustment trend has not yet ended.


Finally, based on the MACD indicator on the 4H level chart of Bitcoin, the DIF line has crossed below the DEA line at the 0 axis forming a dead cross, and the MACD histogram has shifted from red to green, indicating that the market is likely to face further declines.


First, based on the Bollinger Bands indicator on the 1H chart of Bitcoin, there is a certain level of resistance near the middle band. The price quickly rebounded after touching the lower band and is currently running below the middle band, indicating that the price is still in a state of consolidation in the short term. If the price can effectively stabilize above the middle band (98000), it may continue to test the upper band area. If the price cannot effectively stabilize above the middle band and falls back, it may seek support near the lower band (95500).


Secondly, according to the KDJ indicator on the 1H level chart of Bitcoin, the three lines of the KDJ are running upwards at the median level, with the J line close to the overbought area but not yet entering it. If the current momentum is maintained and it hits the overbought area, the price may see a rebound in the short term. Conversely, if the K line and D line turn down near the median, further pullback risks should be noted.


Finally, based on the MACD indicator on the 1H level chart of Bitcoin, the DIF line and DEA line are gradually approaching below the 0 axis, showing a trend of narrowing the gap. The MACD green histogram continues to shorten, indicating that bearish strength has weakened, and bulls may attempt a gradual counterattack. If the DIF line crosses above the DEA line forming a golden cross, it may bring a rebound in the short term.

Comprehensive analysis shows that based on the 4H level of Bitcoin, after a rapid rise, a pullback has occurred. Currently, both bullish and bearish forces are relatively stuck, showing signs of short-term adjustment, but there is some support below. According to the 1H level of Bitcoin, after a rapid decline, the price has entered a period of consolidation, and the forces on both sides are tending to balance in the short term.


In summary, the expert provides the following suggestions for reference.


Short Bitcoin near 98500 with a target of 96000-95500, and a stop loss at 99200. (The first non-farm employment data and unemployment rate after Trump's victory will be released tonight at 21:30. The above suggestions are for reference only, and please pay attention to risk control and stop loss plans.)


Rather than giving you a 100% accurate suggestion, I would rather provide you with a correct approach and trend. After all, teaching someone to fish is better than giving them fish. Suggestions may help you earn for a moment, but learning the approach can help you earn for a lifetime! The focus is on the approach, grasping the trend, planning the market layout and positions. What I can do is use my practical experience to help everyone, guiding your investment decisions and management in the right direction.

Drafting time: (2024-12-06, 12:05)

(Written by the expert) hereby stated: The publication on the internet has delays, and the above suggestions are for reference only. The author is dedicated to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, forex, and stocks, having been involved in the financial market for many years with rich practical operation experience. Investment carries risks, and one should exercise caution when entering the market. For more real-time market analysis, please follow the expert's discussions.#比特币今晨触及90.5K #比特币回升至97K