On the morning of December 28, Bitcoin showed a narrow-range oscillation, with stable intraday volatility. The price hovered around the 87,800 level, and the oscillation range slightly shifted downward compared to previous levels. On the daily chart, multiple rebounds failed to break above the key 88,000 level. The Bollinger Bands are opening downward, and all moving averages across different periods are trending lower. The 5-day attack line at the 90,000 level above has become the core resistance in the short-term market.

From the four-hour perspective, Bitcoin faced resistance near the previous high point, with upward momentum significantly weakening, entering a retracement phase. However, buying support at lower levels remains strong, and there are no signs of a breakdown in the overall structure. This stage's movement is more inclined toward range-bound consolidation rather than trend reversal. The price repeatedly oscillates around the midline of the range, with bulls and bears engaging in intense battles. The one-hour chart shows sideways consolidation, with recent lows not being broken again. Bearish momentum continues to weaken, and short-term market sentiment shows signs of recovery and warming. If the price does not effectively break below the key support below, the market is likely to test resistance levels multiple times, continuing the oscillation and accumulation phase.

Trading suggestions:

1. Bitcoin: Consider short positions in the 88,200-88,600 range, targeting around 86,500.