On December 16th, Monday, Bitcoin midday analysis!
From a technical structure perspective, on the four-hour level, the running channel maintains a narrow downward continuing trend, with prices oscillating weakly lower without forming a significant rebound. The volume is arranged in a weak bullish pattern, and the moving averages are consistently trending downward, indicating a prevailing bearish state in the short cycle.
On the daily level, the running channel continues to trend downward, with prices maintaining a weak consolidation. In the upper mid-range, after a plunge, there was no effective rebound. Bearish volume continues to contract, and the moving averages have not achieved significant joint upward movement. Personally, I still favor a bearish approach this week, and whether the market can rebound and recover will need to be followed up after support.
Personal trading suggestion for Bitcoin: short around 105500-106000, with a target of 104500-103500. If it breaks, continue to look down!
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