12.17 Morning Review: Rebound is an Opportunity for Short Sellers

Yesterday early morning, after a surge that pierced the key resistance level of 88,000 and then retreated, a W-shaped oscillation pattern emerged. The bulls and bears are engaged in a fierce battle, currently oscillating around 87,500 to recover.

From a technical perspective, the 4-hour chart shows continuous resistance at the middle band of the Bollinger Bands. The bullish momentum is waning, and the upward channel has been completely broken. The three Bollinger Bands are opening downward simultaneously, indicating a clear bearish trend. The MACD indicator remains a death cross below the zero line, with the green bars expanding continuously. The bearish force is accelerating, and short-term rebounds are likely traps for trap buyers.

The trend is clearly bearish. Do not blindly buy the dip; strictly adhere to defensive strategies.

Bitcoin (大饼) suggestion: Enter short positions in the 88,000-88,200 range, with a break below targeting 85,000, and initial targets at 87,000-86,500.

Altcoin (二饼) suggestion: Short positions in the 2,980-3,000 range, with targets directly at 2,850-2,900.