Morning of 12.5

From the 1-hour chart and technical indicators, BTC is showing a short-term weak consolidation with a higher probability of testing support on the downside. Recently, it has formed a pattern of rising and then gradually declining. After hitting the high of 94185, the price has continued to close with bearish candles, breaking below the Bollinger Bands middle line at 92618 and forming a series of consecutive declining candles, indicating that short-term bullish momentum is exhausted and bears have taken the initiative. In addition, there has been a period of low-level consolidation today; after dropping to the 90822 low, there was a slight rebound, but the rebound was weak and failed to break through the middle band resistance, which is considered a weak recovery after a decline rather than a reversal signal.

Currently, the price is below the Bollinger Bands middle line, with the upper band at 93593 forming resistance and the lower band at 91643 acting as short-term support. The channel is narrowing downward, indicating a bearish bias in the consolidation. Although the KDJ indicator shows signs of turning upward, it has not broken into the strong bullish zone above the neutral line, so the rebound momentum is limited. The MACD remains in the negative region, and the green bars have not significantly shrunk, indicating that bearish momentum is still being released.

In the short term, it is highly likely to see weak consolidation between the 91643-92618 Bollinger Bands middle line range. If the 91643 support is broken, it may further test the 90000 psychological level; if it manages to hold above the middle line, there may be a minor rebound towards 93500, but the overall downtrend remains unchanged. It is suggested to consider light positions around the 93100-93985 area on rebounds, with targets around 91431-90532.

The above is only personal advice for reference only. Please refer to Haoyu Shipan's layout for specifics! $BTC ‌#btc