December 31 Bitcoin / Auntie Ho Market Outlook

The 1-hour K-line chart for Bitcoin shows a clear bearish pattern in the morning. After reaching a local high, the price quickly retreated, and subsequent rebounds were repeatedly resisted at previous resistance levels, failing to break through. A small double-top pattern has been completed on the hourly chart, and the current price has broken below the key neckline support of the double-top, officially establishing a short-term bearish trend.

Technical indicators also signal strong bearish momentum: the RSI index rapidly drops from the overbought zone and continues downward, indicating that bullish momentum is nearly exhausted and completely depleted; the MACD red histogram continues to narrow, with the fast and slow lines approaching a death cross, indicating increasing and releasing bearish momentum; the Bollinger Bands are opening downward, forming a downward channel, with the price consistently trading below the middle band, solidifying a weak oscillation pattern. The overall short-term downside risk is much greater than the upside potential.

Bitcoin trading suggestion: Short near 89,000-89,700 on rebounds, targeting 87,700-85,500. If broken, continue to look lower.

Auntie Ho trading suggestion: Short near 3,000-3,050 on rebounds, targeting 2,900-2,750. If broken, continue to look lower.