#大户持仓变化 12.17 Bitcoin intraday resistance is clearly evident at high levels, continue to adhere to a bearish outlook

After a sharp decline last night, Bitcoin once again entered a range-bound consolidation. Currently, the price is oscillating around 87,500, with volatility noticeably contracting, and short-term trading opportunities are lacking clear direction. It is important to note that markets are never short of volatility, but truly profitable trades often stem from discipline and patience, rather than blindly chasing highs or selling lows. In the crypto space, many people's losses are essentially due to overconfidence and wishful thinking.

From a technical perspective, Bitcoin is still in the process of forming a top through consolidation. On the daily chart, the price is operating near the lower Bollinger Band, with the channel gradually expanding. The lower band continues to move downward, creating resistance, and a bearish pattern is slowly taking shape.

The four-hour chart presents a more straightforward picture — all three Bollinger Bands are collectively trending downward, indicating that bears are dominating the momentum. Last night, after a quick rebound to test the middle band, the price was immediately suppressed and fell back sharply, showing that this level has become a significant resistance, and the rebound momentum is clearly lacking.

Trading-wise, it is recommended to stick to the usual approach. Focus on the key resistance at the middle Bollinger Band on the four-hour chart; selling on rallies below this level remains the most prudent strategy.

Specifically, consider short positions around 88,100 and 89,800, with targets near 86,500 and 85,000.

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