As the year-end market heats up, market sentiment has clearly shifted to optimism. Bitcoin, after several days of correction, has established a solid upward channel on the daily chart. Although the price is still oscillating within a wide range, the hourly chart shows that the upward momentum has initially taken shape. The latest large bullish candle completely engulfs the previous fluctuations, and the MACD indicator on the hourly chart shows increasing red bars, indicating that bullish momentum appears to be quite sufficient.

This position is indeed relatively high, but in a one-sided upward trend, what seems like a "top divergence" is often a signal of accelerated price surge rather than a warning of reversal. Many people hesitate here, and as a result, miss out on subsequent gains.

From the moving average system, the EMA 7, 30, and 120 lines have formed a beautiful bullish alignment. They support the price step by step like stairs, which is known as the "air refueling" pattern. As long as the moving averages maintain this structure, the short-term direction will not be too bad.

From a trading perspective, consider deploying long positions in the range of 87,500 to 87,000. If the price breaks through smoothly, the first target is around 90,000. If this level is also effectively broken, then 91,000 becomes the next observation point.

The most interesting thing is that when mainstream cryptocurrencies show such strong momentum, privacy coin ecosystems often follow with emerging opportunities. Whether this upward channel can take the entire crypto market to a higher level depends on the performance in the next few days.