Bitcoin is currently oscillating in the range of 87,000-89,000, with high volatility and declining volume. Support: 87,000, 85,500 Resistance: 88,500, 89,000, 90,000 Key bullish factors: long-term holders buying at low levels, institutional interest continues, historical Christmas market tends to be warm Bearish factors: breaking below the annual line, ETF outflows, significant selling pressure from old coins, options expiration will intensify volatility My personal judgment is that it is highly likely to continue oscillating, with a range of 86,500-89,000 Optimistic: breaking above 88,500 with increased volume, targeting 89,500-90,000 (requires US stocks to strengthen) Neutral: narrow oscillation between 87,000-88,500, waiting for direction from options expiration Pessimistic: breaking below 87,000, testing 85,500-86,000 (requires a significant drop in US stocks to trigger)