December 24th BTC Price Analysis and Forecast

Core Analysis

1. Strong short-term support: After a quick rebound following a drop to 86536 during the day, this level has formed strong support, and the rebound is accompanied by an increase in trading volume, indicating that bottom-fishing funds have entered the market, and selling pressure has been basically released.
2. Clear resistance level: The current price is around 87661.8, with the upper range of 88000 - 88200 being the previous high points of fluctuation and a dense area of chips, constituting the main short-term resistance.
3. Funds and Sentiment: The intraday sharp drop did not trigger market panic, and there were no anomalies in the funding rates of the derivatives market. During the early morning transition phase between Europe and the US, liquidity was thin, making it difficult to see a one-sided extreme market.

Trend Prediction

In the early morning, BTC mainly fluctuated and rebounded in the range of 87000-88200, with a high likelihood of repeatedly consolidating around 87600, and a higher probability of testing the resistance at 88000-88200. The possibility of breaking below the low of 86536 is very low. If it breaks through 88200, it is expected to further test 89000-89500; if it fails to break through the resistance, it will maintain a wide range of fluctuations within the range.

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