PANews reported on December 11 that Chinese crypto analyst Banmu Xia wrote: "Bitcoin saw a surge in the early hours of today, but the magnitude was insufficient. Currently, the rise from $80,500 appears to be a leading wedge pattern. Meanwhile, $89,000-$90,000 is a relatively strong support level. The market's target for the next month is $103,500-$112,500. The process is likely to be very volatile."