Analysis of Bitcoin's Evening Trend on December 13

Is Bitcoin stabilizing above 100,000?

Bitcoin has been fluctuating around 100,000 for a while now. After the market opened last night, the price of the coin steadily rose, reaching an intraday high of 102,500 at midnight. However, during the night, it fell back below the 100,000 mark, indicating that 100,000 is still not very stable. If it cannot stabilize above 100,000, there is always a risk of a sudden drop.

Currently, the market shows strong bullish sentiment, and there may still be a small profit to be made from the bullish outlook, but this is not a long-term situation. Analyzing the current hourly chart, it can be seen that the Bollinger Bands are narrowing downward, and after a day of rising during the daytime, the K line has only reached the middle band of the Bollinger Bands. Furthermore, after reaching the middle band, it started to decline again. Therefore, from tonight until the market opens on Monday, the price will likely oscillate between the middle and lower bands of the Bollinger Bands. If it breaks below the lower band, there is a high possibility that the price will drop to the 96,000 position.

Evening Trading Entry Suggestions

Short Bitcoin around 100,200, reserving a 1,000 point stop-loss space, with the first target at 98,800, and then looking at 97,600.

The above is personal advice; trading contracts carry risks and one should proceed with caution.

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