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Bitcoin is currently in the narrow range of the converging triangle's end, with low liquidity at the end of the year and intense battle between bulls and bears. The direction is uncertain; a key breakout/breakdown will trigger trend continuation or reversal. Currently, the market is neutral and cautious.

At the 4H level, the converging triangle's end shows lower highs and higher lows, with narrowing amplitude. The candlestick bodies are smaller, with frequent upper and lower shadows. Bulls and bears are deadlocked, and a breakout could happen at any time. The momentum is strong, with MACD alternating between bullish and bearish signals. The daily RSI is neutral to bearish, and the moving average system is tangled, lacking clear trend guidance. As year-end approaches, funds are cautious, and the correlation between the US stock market and crypto-related sectors warrants close attention.

On the daily chart, support has recently formed around 87,000. After a rebound, resistance is seen at 89,500–90,000. Some opinions consider this a triangle consolidation/support-resistance swap, while others mention a double bottom and neckline test, with significant divergence. Trading volume is generally weak, with a clear holiday effect.

The short-term focus is on the direction choice at the end of the converging triangle. Trading suggestions are to retrace to around 86,800–85,900, with a light position for entry. Targets can be set near 88,500–89,500.

The above is only personal advice for reference and does not constitute investment advice#btc