BTC 4-hour breakout from the previous night: short positions strengthen, key price levels are laid out here

I took a look at the recent 4-hour Candlestick for BTC, and the overall trend is quite interesting.

In terms of price performance, there was a slight increase compared to yesterday morning (12-23 04:00), but it has decreased since midnight yesterday. Overall, it has dropped compared to 8 AM the day before. The last Candlestick is a bullish one, with the closing price higher than the opening price, but the story behind this is not so simple—although the bulls have taken control, they lack momentum afterwards.

The trading volume is clearly sluggish. The recent transaction volume has noticeably dropped compared to the previous few hours, and the price is also declining, a typical case of volume and price falling together – the market is quiet, and participation is low.

The key point is here, how do we say technical indicators?

MACD Angle: The histogram continues to be negative and is gradually lengthening, which indicates that the bearish forces are continuously accumulating, and there is no obvious upward trend in the market; instead, there are signs of weakening.

KDJ Indicator: There is neither a golden cross nor a death cross, maintaining a neutral state; however, considering other signals, one cannot be too optimistic.

Moving Average Performance: Although MA10 is higher than MA30 (this is the case at both 04:00 and 08:00 on 12-23), this advantage is declining. Under the circumstances of volume-price divergence, this advantage may actually become a pressure in the short term.

Based on the analysis data from BOSS Wallet, if you are considering positioning, you can focus on these price levels:

Long this area — Buy points are in the ranges of 83463.82 and 84483.87, with a stop loss set at 84061.37; Short this area — Sell points are looking at 89603.0 and 90835.89, with a stop loss at 90395.16.

Support and Resistance: The recent support level is at 87324.0, and the resistance level is at 89603.0. The recent high is 89945.43, and the low is 84483.79, indicating a significant volatility.

In summary: the bears are gathering strength, and the simultaneous drop in volume and price indicates insufficient market participation. We need to continue observing in the short term and avoid blindly chasing highs. The key support level must be maintained; otherwise, further declines may occur.