November 12, Tuesday Bitcoin Morning Insights: Overnight Bitcoin market trend has surged again, where will the market go next?

Bitcoin has started to rebound again, and the market trend is very extreme, with bullish energy continuing to increase. As of now, the price has reached a historical high of around 89,400, but it has not truly broken and stabilized above 90,000, so we still need to be cautious about the market pulling back after a surge. The upward momentum is too strong, and personally, I do not recommend chasing long positions at high levels, as it is too dangerous!

On the daily chart, the B-wave rebound of Bitcoin may end at any time, and then the market will face a C-wave decline at the daily level, which will further increase the downside potential. There is no need to chase long positions at high levels, especially since the recent market has been quite volatile. Therefore, we should first look for a pullback in Bitcoin before planning to go long. Will the market drop significantly afterwards? Let's wait and see!

For the morning operations, my personal suggestion is to short Bitcoin at the rebound of 89,358-89,850, with a target down to the range of 87,000-86,500!