12.31 Morning Analysis

Last night's roller coaster ride of Bitcoin was really exciting

From the daily K-line chart, Bitcoin has been in a correction phase since it reached its historical high in mid-December, currently hovering around $93,000. After briefly breaking $95,500 on December 30, the bearish trend is evident. The four-hour K-line chart shows that Bitcoin has fallen below key support, opening up space below. The MACD is continuously shrinking downwards, with the DIF and DEA expanding downwards at low levels, along with trend indicators stretching downwards. The EMA15 resistance level has reached $94,800. If Bitcoin cannot effectively break through and stabilize above $94,800, it may continue to decline in the short term.

The one-hour K-line for Bitcoin has just formed a pullback after touching the EMA 120 level, breaking the middle track and approaching the lower track position. The upper Bollinger Band is also trending downwards again, with a reduction in volume appearing again above the zero axis, and the slow line is also in a converging pattern; it really is going up and down the same way. The MACD continues to show weakness below the zero axis, with the fast and slow lines intentionally diverging three times, as the bears intend to continue.

In the morning, Bitcoin is fluctuating around the 92,500-92,000 area, with targets focusing on 94,000-95,000. If it does not continue upwards, it may reverse to short.