Wednesday, December 25
Yesterday, Bitcoin's price consolidated at a low level, and continued to surge strongly in the evening. Our bearish outlook was somewhat disappointing, and we did not achieve any significant results, ending last week's winning streak. However, I still have great confidence in the market outlook. Let's hold our positions well for the last shift before the New Year and navigate through the prosperous year together.
Looking at the current daily chart, although the price surged yesterday, it only slightly broke the middle track and did not effectively stabilize above it. Simply put, if the price does not break, it is highly likely to continue in a consolidation pattern, with resistance above at 99,100, which we will focus on during the day.
I believe we must set up a short position at this level. Currently, the maximum resistance above is 102,000 and below is 89,000. Now, it’s just a matter of which side reaches first; that’s a discussion for later. For now, we will focus on the present, shorting in batches around the 98,700-99,200 area, with a target at the 94,000 level.
Follow Jiang Wei's public account; the only way to relieve worries is through Jiang Wei.
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