12.16 Evening
The intraday Bitcoin is gradually rising with a fluctuating upward posture, breaking through to around 87500.
From the hourly Bollinger Bands perspective, the current bag mouth presents a typical 'bottleneck breakthrough' pattern, with the upper and lower bands not converging but showing a diverging trend, and the price has consistently remained above the upper band since the breakout, which is a characteristic of bullish dominance.
From a technical logic perspective, the 'bottleneck' bag mouth is a process of accumulation for both bulls and bears, and the subsequent divergence of the upper and lower bands, along with the price consistently remaining above the upper band, signifies that after the accumulation, the bulls have taken control of the rhythm, breaking through the original balance range. The price continuing to operate above the upper band indicates that there is not only no short-term retracement pressure, but rather a 'stronger remains strong' situation — the upper band becomes a dynamic support, and each pullback is a process for the bulls to further consolidate their advantage.
In the short term, this combination of 'bottleneck breakthrough + band divergence + price moving upwards along the upper band' is a typical strong continuation pattern.
(There will be non-farm data tonight, do not hold the bag)
Bitcoin 86400-85400 long, look at 88700-90000
Ethereum 2910-2860 long, look at 3050-3100
