Friday, December 20
Good morning, everyone! Wishing you a smooth and prosperous day in the crypto world.

Bitcoin continued to decline yesterday, with the price around 102,000. Jiang Wei directly disclosed the current short position, bearish at the 98,800 level, which was perfectly validated. The next target is 94,000, with a minimum retracement to 95,700. We are just one step away from the target. There’s no rush; the price movement still needs time to convert space. Although we haven't reached it yet, it doesn't mean we won't today, as the bearish trend still has continuity. Next, we just need to wait.

On the daily chart, the price has broken below the middle track support, with support converting to pressure. Pay attention to 98,600; if it doesn't break and stabilize above it during the day, we will see a bearish pattern. In the chart below, we can see that the candlestick has formed two consecutive large bearish days and created an engulfing pattern, stabilizing below. The MACD indicator shows that the bearish trend is currently in a volume expansion phase, with the fast and slow lines converging and forming a death cross, indicating that the bearish trend is still slightly strong. Therefore, the strategy remains to short on rebounds.

Reference positions for shorting in the 98,000-98,500 range, targeting the 94,000 level, and if it breaks, look at the 92,000 level.

Follow our public account to say goodbye to blind operations. What can relieve worries? Only Jiang Wei.

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