Tuesday, December 30th Bitcoin Morning Analysis and Commentary

Currently, Bitcoin is fluctuating above 87,000. After a recent surge to 90,400 and then a pullback, the intraday low touched 86,800, showing an overall pattern of a bottoming out and rebound. In terms of volume, trading activity remains at a relatively high level. During the pullback, selling pressure did not continue to intensify, indicating that the bullish forces in the market are still absorbing. After a short-term correction and stabilization, the downward momentum is gradually weakening, providing a fundamental support for the bulls' layout.
From a technical perspective, on the 4-hour chart, the price briefly dipped below the Bollinger lower band and then quickly rebounded. The Bollinger lower band formed an effective support; after the correction, the price returned within the Bollinger bands. Meanwhile, the resistance level formed by the previous high of 90,400 was broken, and the pullback did not break below the key support, which is a typical breakout and retest confirmation pattern. The technical setup indicates that the time for a bullish position has arrived!!!
Tuesday morning suggested buying around 86,700-87,000, with a target near 89,000#BTC