Bitcoin dropped from 88400 all the way down to 86800 before someone stepped in to buy. A short-term rebound can be observed, but the pattern is still very weak.
Looking at the Bollinger Bands of the hourly K-line, the gap is getting wider—this is the performance of the bears desperately smashing the market. Every time the price drops, the lower band continues to move down, the space between the bands is being stretched wider and wider, and the upper band is also tilting down.
What's the problem? The price hasn't rebounded much after breaking through the middle track, and has been staying below it. The middle track is becoming steeper downwards, indicating that there are essentially no buyers on the bullish side. Even when it hits the lower track, there are no signs of a stop to the decline; instead, it continues to drift downwards, and there are no signs of change in the bearish pattern of the Bollinger Bands. This support point at the lower track will become weaker and weaker, and its effectiveness is continually diminishing as the track moves down.
Key range for Bitcoin: resistance at 88000-89200, support at 86200-85000. Key range for the second pancake: resistance at 3000-3050, support at 2870-2810. $SOL Pay attention to these as well.
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TokenStorm
· 12-25 02:00
The Bollinger Bands' face is obvious at a glance; the bears haven't stopped their attack at all. Whether the 86,800 level can hold depends on tonight's on-chain data; otherwise, get ready to break through the defense.
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SigmaBrain
· 12-24 04:06
The short positions in this wave really seem to be endless, have the long positions all died?
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0xSoulless
· 12-24 04:02
The Bollinger Bands are widening, and the lower band is still moving down, indicating that big funds are dumping crazily.
Where have the long positions gone? Why haven't they been awakened by the dump yet?
Is 86200 really support or just an illusion? We'll find out after another hit.
Don't be too optimistic about this rebound; the pattern is so weak that it's normal to take the opposite position again.
I'm also watching that bunch of SOL, but it's better to wait before entering now, afraid of being trapped.
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AlphaBrain
· 12-24 03:57
The lower band really can't hold anymore, the short positions are pumping too hard, and the long positions can't come to the rescue at all.
Wait a minute, can 86200 really stop it? It feels like it still has to drop further.
The Bollinger Bands have never closed since they opened, it looks a bit creepy.
How's $SOL doing, has anyone bought the dip?
Can it still rebound after breaking the middle band? The long positions have directly capitulated.
Who dares to hard hit that resistance at 88000, going down is easy but coming back up is hard.
The second pancake isn't doing much better, it can't even hold 3000, this situation is really incredible.
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GateUser-9ad11037
· 12-24 03:52
The Bollinger Bands are so wide, there really are no long positions left, it feels like it's going to continue to drop.
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GasWaster
· 12-24 03:47
ngl the bollinger band getting stretched like this usually means i'm about to watch my positions get liquidated while gas fees spike to 500 gwei... classic move 💀
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quiet_lurker
· 12-24 03:42
The Bollinger Bands are getting wider, and the short positions just seem endless.
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SatoshiChallenger
· 12-24 03:37
The widening Bollinger Bands indicate that the long positions are running out of steam. I've heard this logic too many times, and what was the result? Historical lessons: last time this analysis was made, Bitcoin directly reversed and pumped 15%.
Staying below the middle band = no one is buying? Data shows that since December, Whale wallets have actually been accumulating slightly. Ironically, technical analysts often overlook on-chain actions.
Can the support at 86200 really hold? I can't bet on it, but I can make a wager—three months from now, will this analysis become a Reverse Indicator?
#数字资产市场洞察 12.24 market data
Bitcoin dropped from 88400 all the way down to 86800 before someone stepped in to buy. A short-term rebound can be observed, but the pattern is still very weak.
Looking at the Bollinger Bands of the hourly K-line, the gap is getting wider—this is the performance of the bears desperately smashing the market. Every time the price drops, the lower band continues to move down, the space between the bands is being stretched wider and wider, and the upper band is also tilting down.
What's the problem? The price hasn't rebounded much after breaking through the middle track, and has been staying below it. The middle track is becoming steeper downwards, indicating that there are essentially no buyers on the bullish side. Even when it hits the lower track, there are no signs of a stop to the decline; instead, it continues to drift downwards, and there are no signs of change in the bearish pattern of the Bollinger Bands. This support point at the lower track will become weaker and weaker, and its effectiveness is continually diminishing as the track moves down.
Key range for Bitcoin: resistance at 88000-89200, support at 86200-85000.
Key range for the second pancake: resistance at 3000-3050, support at 2870-2810.
$SOL Pay attention to these as well.