12.18 Wednesday Bitcoin rebounded after a drop yesterday, hitting the first target precisely, but the second target was not reached. There may not be enough momentum building below, and it will take time to convert space for further upward movement. However, a 2000-point rebound is still significant.

Technical analysis on the four-hour chart shows that each wave of upward movement is accompanied by a wave of downward adjustment, forming three waves: the first wave at 99600, the second wave at 104630, and the third wave at 108366. After reaching these highs, there has been a significant drop, and the current indicators are forming a death cross, with bearish volume increasing. The overall pattern leans towards a downward signal, so the intraday strategy is to look for a pullback first.

Reference strategy: short in batches in the 106600-107000 area, targeting 104200. If it breaks down, look for the 102000 level.

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