December 30 Morning Market Highlights

Bitcoin this morning formed a long upper shadow candlestick with a bearish body, creating a typical bearish engulfing pattern compared to yesterday. However, from a broader perspective, the rally of 2,500 points yesterday ultimately completed a purple Gartley bullish pattern, with a pullback around 89,690. Subsequently, a less standard green Seifu bearish pattern appeared, which has already completed at 87,216.

The key now is whether the candlestick can break through and stabilize above the 8.72 level. If it breaks through, it would be a very good entry point for bulls. From the 1-hour chart, Bitcoin has formed multiple supports around 8.7, with the bulls reaching a consensus here and continuously pushing higher.

Trading reference directions: bullish approach above, enter around 8.72, set stop-loss at 8.55, and target 8.89 and 8.96; if reversing, consider shorting at 9.02 with a stop-loss at 9.2, and targets at 8.85 and 8.75.

Of course, this analysis is based solely on chart patterns; specific trading decisions should also consider your own risk tolerance.