Wednesday, November 27th Trend Analysis

Overnight, Bitcoin prices continued to decline, with a low point touching the 90800 level. Last night, we provided a short-selling strategy that was executed perfectly! During the trading session, we easily captured a 2000-point profit. Given the current trend, many people know that the trend is bearish, but they still cannot avoid being washed out. Why is that?

Ultimately, it's still a cognitive issue. Knowing full well that it's a bearish trend, people still want to catch short-term longs during the rebound and adjustment process, but as soon as they enter, they get trapped. If the position is not good, how to trade and who to trade with is also key. Grasping the trend, one round is enough to let you recover and turn things around.

As Bitcoin once again dipped in the early morning, short-term pressure has come to the 93000 - 93500 level, with support temporarily focusing on the 90000 mark, followed by the 89000 level. At this stage, until a clear stop-loss signal appears, it's better to trade around one trend. Friends who entered the previous wave have already secured some profit; they can reduce their positions accordingly. For short-term traders, there’s no need to elaborate further; everyone should know how to act, the key is execution!

As for Ethereum, it remains independent and fundamentally different. The rebound and decline of Bitcoin has little impact on Ethereum's own trend, but it is still affected to some extent. Amid Bitcoin's continuous downward rhythm, there has been some pullback action; although the intensity isn't too large, in terms of shape, it still appears relatively weak. Short-term operations can also go short, with short-term resistance focusing on the 3400 - 3420 area, support at 3260, and strong support at the 3000 mark.

On Wednesday morning, if Bitcoin rebounds to the 93000 - 93500 area, continue to short, with the target looking first at the 90000 level, followed by 89000, and adjust after taking profit. For Ethereum, continue to reference short near 3400, with a short-term target of 3260 and a swing target of 3000 unchanged.