$BTC Evening Viewpoint:
Looking at the chart: Bitcoin on the hourly level has broken the bearish flag and has also broken the 87492 neckline. If it cannot rebound and return to operate within the flag, it will test the support at the position indicated by the red arrow below, which is 86533. How many times has this support been tested? If it is tested again, can it hold? If you kick a wall once, it doesn't fall; if you kick it twice, it still doesn't fall, but if you keep kicking, sooner or later it will fall. Currently, the support at 86533 has been tested once, twice, three, or five times and has held. I don't believe it can hold any longer.
Now, Bitcoin on the hourly level has shown a potential M-top. Since it has not yet broken the neckline, it is still a potential M-top. The neckline is 86533. If it breaks 86533, the M-top will be confirmed, and the only target will be down to 85727, unless it can break 88068 to lift the current downward crisis.
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Bitcoin broke above 88005 with volume, chase long on the right side; 87422 broke down with volume, unable to recover, chase short on the right side, and set a stop loss.
Bitcoin on the hourly level broke and stabilized above 88068, looking up at 89408-90385; if it can't go above 88068, it's useless.
On the 4-hour level, breaking below 87481 looks down at 86385-85223; if it breaks below 86385 and cannot recover in time, a waterfall will come.
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Continue to look at the chart: Bitcoin on the 4-hour level has failed to pass the EMA20 and 50-day moving averages; this is Bitcoin's hurdle. If it cannot stand above the EMA20 and 50-day moving averages, we can only look bearish. When it stabilizes above the EMA20, we can look for a stop in the decline. A break above the EMA50 will signal a reversal. Today is Christmas, and the U.S. stock market is closed; let Bitcoin play freely! Pay attention to changes in volume. Meeting adjourned.
