December 11th, Thursday evening trading ideas

Currently, Bitcoin is stuck around 90261, with nearly 3% decline in the past 24 hours. On the 4-hour chart, the weakness is obvious—price is directly below the middle band of the Bollinger Bands. The middle band is now around 91435, which is a short-term hurdle.

Moving averages are arranged in a bearish alignment, with MA5 pressing down on MA10 and MA20, indicating persistent bearish momentum. MACD is even more direct—DIF has crossed below DEA to form a death cross, with the green bars still expanding, showing increasing bearish momentum. However, the J value of KDJ has dropped to 2.72, indicating short-term overselling. There might be a small rebound, but don’t expect strong momentum.

Looking at support and resistance levels, the nearest resistance above is 93320, with strong resistance at 96443. Key support below is 88198, with strong support at 86198. Volume is also interesting—during the previous decline, volume was high, but now the trading volume has dried up, clearly indicating market hesitation and no one daring to act lightly.

For long positions, don’t rush for now unless the price can volume-break through 93500, the middle band of Bollinger Bands, and key resistance. Otherwise, the rebound is likely to be short-lived.

For short positions, aggressive traders can try a small position near the current price of 90261, with no more than 5% of your capital. Conservative traders should wait until the rebound reaches the resistance zone where 91000-91500 MA5 and Bollinger Bands middle band coincide, then add to positions gradually. Stop-loss at 93500-94000. If the price breaks below 88198, look at 86198. If that level also fails to hold, then target 83075.

If Bitcoin suddenly volume-breaks above 93500, the bearish trend might change. Quickly close short positions and observe—don’t hold on stubbornly.