December 29 Morning Thoughts:

Yesterday, the Bitcoin market overall exhibited a wide range of fluctuations. During the trading session, the price fluctuated relatively steadily within a specific range, with limited amplitude. As of now, the Bitcoin price is hovering around the key position of 95000, showing a certain degree of downward movement compared to the previous period. From the daily chart perspective, although Bitcoin has attempted to rebound multiple times, it has never been able to firmly establish itself above the 95000 level and build a stable support platform. Currently, the Bollinger Bands indicator shows a downward opening shape, which often indicates significant downward pressure on prices, and the market's fluctuation range may further expand. Meanwhile, all moving average systems also maintain a downward attacking posture, with the five-day attack line above forming a short-term resistance line around the 96000 level. As time progresses, this resistance line is gradually moving downward at a slow rate, continuously obstructing price rebounds.

In summary, if the Bitcoin market cannot organize a strong rebound today and break through the layers of resistance above, it is highly likely that its price will continue to decline, further seeking the support area below.

Big pie short around 95400-95700, target focus on 94500-94000

Second pie short around 3420-3440, target focus on 3350-3320

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