On 24/11/26, BTC dropped by 6000 points to 92600, retracing to the support of the ascending triangle's top. Can the altcoins' catch-up continue?
The day before yesterday, I reminded about the risk of a pullback in the early morning, and during the day, I reminded again on 24/11/24 that BTC's liquidation risk is increasing. Ethereum's catch-up is still ongoing, and the established altcoins are taking turns to catch up.
On 24/11/25, BTC's descending channel encountered resistance, and ETH formed an engulfing pattern, prompting spot trading to reduce positions at highs during the rebound.
Bitcoin dropped by 62000 points yesterday, reaching a low of 92600. Ethereum's catch-up was also pulled down, but the retracement was not large. Altcoins still have temporary opportunities for catch-up, but we also need to notice that if Bitcoin continues to fall sharply, it will affect the altcoins' recovery.
Bitcoin
The daily line has shifted from a previous uptrend to a four-day decline, currently falling to 92600, which coincidentally is a retracement to the support of the ascending triangle's top. It will provide short-term support to observe the rebound strength, but the decline is not yet complete. The MACD fast and slow lines on the daily chart have crossed, and the histogram is below the zero line.
On the 4-hour chart, we have been observing the ascending channel's movement and have recently continued to remind about the risk of a pullback due to a bearish divergence at the top. After breaking down, it is re-testing the channel's resistance. The descending channel from the highest point rebounded to the Fibonacci 0.786 yesterday and faced pressure to fall back. During this decline, we will wait for lower prices to consider medium to long-term positioning.
Support:
Pressure:
Ethereum
Ethereum's evening catch-up broke through 3444, reaching a high of 3546, but was pulled down by Bitcoin, leading to a spike rebound. This is just at the spike's previous high histogram support. The altcoins led by Ethereum's catch-up has already entered its final phase, so we have consistently reminded to seize short-term opportunities during Bitcoin's high-level fluctuations without being too greedy. Capture each wave of the market, each line of opportunity, in segments!
Currently, if we are still looking at a rebound, we need to see if the 3545 high can be broken again. The altcoins' crazy catch-up has also been pressed on the slowdown pedal. The previously mentioned ecosystem of Bitcoin, ORDI, SATS, and RATS has not seen much catch-up but the bottom support is still there; we will see if it can catch up in a wave.
Support:
Pressure:
