Evening of December 7

From the perspective of the 1-hour K-line cycle and technical indicators, Bitcoin is showing a short-term weak pullback. Recently, after surging to 90257, it quickly pulled back, with consecutive long bearish candlesticks, forming a "surge and pullback" bearish dominant pattern. The latest candlestick has broken below the middle Bollinger Band at 89473 and is now near the lower Bollinger Band at 89049, indicating strong short-term downward momentum. The price has fallen from the upper Bollinger Band to near the lower band, with the bands flattening out, suggesting that the short-term consolidation range has been broken and the probability of a downside breakout is increasing.

The KDJ indicator shows the J line rapidly dropping to a low level, and the K line crossing below the D line, forming a death cross, reflecting short-term oversold conditions but the bearish trend remains unchanged.

The MACD histogram is positive but continues to narrow, indicating that bullish momentum is rapidly weakening and is about to enter bearish territory.

In the short term (1-4 hours), a continued pullback and consolidation is likely: if the price breaks below the lower Bollinger Band at 89049, it may further test the previous low of 88870. If it can hold support at the lower band, a small rebound may occur, but the rebound will be limited by the middle band at 89473, making it difficult to change the short-term weakness. It is recommended to consider light short positions around the 89831–90635 area, with targets at 88233–87132.

The above is for personal reference only. Please refer to Haoyu Shipan’s layout for specific guidance! #BTC $BTC