11.27 Midday Thoughts:

Bitcoin daily chart is oscillating at a high level above the short-term moving averages. The Bollinger Bands are opening, the moving averages are trending upwards, and although the MACD fast and slow lines are also trending up, they show signs of a potential reversal. On the daily chart, there have been two consecutive saturated bearish candles, with MA5 and MA10 crossing above around the 94800 level, forming a strong resistance. In the larger time frame, it is advisable to maintain a bearish outlook, initially focusing on the mid-line 90000 round number. In terms of the current technical setup, Bitcoin is approaching a dense accumulation zone. From the technical indicators analysis, the 4-hour chart shows BOLL opening downwards, and there are signs of a crossover between MA20 and MA60. In this scenario, close attention should be paid to the breakout of the descending wedge.

In summary, during the daytime short-term, one can look for profit from rebounds, while in the larger time frame, the strategy remains to enter short positions on rebounds at higher levels.

Today's operations continue to focus on the trend resistance near 94500, suggesting to short directly if the rebound does not break the 94300-94000 range; for the lower side, pay attention to whether the trend support at the 90000 round number breaks, and it is suggested to open long positions around yesterday's low near 90800 if it retraces, with a long position range of 90800-91000, and if it breaks down, look to 90000 round number to go long again.

Bitcoin: Long near 93000, targeting 94300, if it does not break, reverse to short.

Short near 94300-94000, targeting 93000-92300.

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