The Bitcoin trend on December 23rd, #BTC对标贵金属的竞争格局 shows that the short positions pressure is quite evident.

From the 4-hour K-line perspective, Bitcoin stabilized after hitting the MA30 moving average, indicating a potential technical oversold rebound. But don't be fooled by this rebound— the green bars of the MACD are shrinking, and the DIF and DEA lines are about to converge for the second time, likely leading to a death cross with increased volume. Looking at the KDJ, the three lines are still spreading downwards, with values approaching the oversold area of 15. What does this indicate? After the short-term rebound, there is still energy to explore lower levels, and it may even break through the support below.

The signals on the daily level have become more straightforward. After the price attacked the middle track, it was hit with a long upper shadow, and then began to pull back, currently nearing the MA7 moving average. In terms of candlestick patterns, it is already a foregone conclusion that a bearish candle will appear after three consecutive bullish candles. The RSI indicator has turned down from the position of 52, indicating a clear willingness of the market to pull back. The key is to watch whether the MA7 moving average can hold; once it breaks, a new downward wave will begin.

In terms of operational strategy, you can consider laying out short positions when it rebounds to around 89400 or 90400, with target levels looking towards 87800 and 86800.

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