Today's BTC Analysis (11.20)
Direction:
From the perspective of ETF spot purchases of BTC, basically only BlackRock has been continuously purchasing, and other institutions have appropriately reduced their positions. BlackRock's control of the market is relatively solid, but as the price continues to hit new highs, retail investors' psychological expectations of taking over are not that high, so the higher the price is, the less trading volume there is, and the high liquidity is exhausted, so you will find that the increase of several thousand points is completed in a few minutes.
In most cases, it is not scientific to pay attention to technical indicators and news, or to say that the bull market is coming is actually not scientific. This round of rise is just institutions using the newly issued USDT to pull the market, using institutional funds, and constantly setting new highs, thinking that it can attract countless retail investors to continue to chase the rise, but the reality can only be said to be a lonely pull. There are very few new retail investors and new funds, and there are more old leeks, so relatively speaking, this round of pull-ups did not attract too many leeks and funds. If it is pulled to 100,000 at one time, ask yourself, who will buy it? To be honest, those who say that it will reach 1 million or 1.5 million, those who shout this slogan are worse than fools. Institutional purchases of BTC ultimately require someone to take over, either you or me. Trump's slogans are just for fun, how many of the politicians' words are true?
Back to the market, after a rise of nearly 30,000 points without a deep correction, this round of highs should require a new round of deep corrections, and then pull the market:
The first order position is between 90,000-90,200, which is to go long and bet on a rebound of about 1,000 points. It can be closed around 900,800, and the pattern is around 901,500. The stop loss is generally set at 89,950
The second position is around 88,500, and the stop loss is generally set around 100 points.
The third position will be seen later.
At this stage, it depends on whether the 90,000 point is broken.