December 17 Bitcoin Market Outlook

Currently, Bitcoin's price is steadily above the 87,000 level. The rebound started from a low near 85,000 and has continued to rise, demonstrating strong buying support below. Recently, after dipping to around 85,000, the price quickly rebounded, with market selling pressure gradually diminishing. The bulls have gained short-term dominance, and the overall market sentiment has shifted from weakness to a steady rebound.

From a technical perspective on the 1-hour chart, the price has stabilized above the middle band of the Bollinger Bands and continues to move toward the upper band, with the Bollinger Bands expanding upward. The KDJ indicator's three lines are operating in the bullish zone, and there are no overbought reversal signals yet, indicating that short-term upward momentum remains strong. Meanwhile, the price successfully broke through the previous consolidation platform, with trading volume increasing in tandem during the rebound. The good volume-price coordination further validates the effectiveness of this rebound.

Bitcoin Trading Suggestions: Pullbacks around 87,200-86,500, with an upward target of 88,500-90,000. If broken, continue to look higher #市场触底了吗？ #美联储降息预测