11.23: Weekend Market Overview:

BTC's closing line in the morning was a bullish doji star, with five consecutive bullish candles, but momentum is gradually weakening. Although it dropped to a low of 97150, it was pulled back to create a historical new high of 99588 in the middle of the night, getting closer to 100K. The closing position is higher than yesterday's closing, but the volume has decreased again, forming a divergence between price and volume, indicating a bearish outlook.

The Bitcoin ETF had a net inflow of 4940 contracts yesterday, with BlackRock alone purchasing 5170 contracts, while Grayscale had an outflow of 682 contracts; institutions are increasing their positions, and the overall upward trend remains unchanged. Early this morning, ETH issued another 10 million USD on-chain, indicating that the weekend will not be very calm and will inevitably stir up some waves;

Currently, Bitcoin is consolidating at a high level. Will the weekend provide some space for altcoins to catch up? From a 4-hour perspective, Bitcoin is forming an ascending wedge. If it breaks below the trend line, it will indicate a reversal trend; however, based on Bitcoin's momentum, it is still advisable to follow the trend, remain bearish but not short-sell. If you choose to trade, please manage your risks. Support levels are at 96429, 95454, and 94478, with the target still unchanged starting from 100K.

BNB has also shown strength today, spiking to 650; the daily chart shows a divergence between volume and price; at the same time, it has stabilized at the middle Bollinger Band, and is currently moving towards the upper band. If it breaks the upper band resistance around 662 and stabilizes, it will directly push towards a new high of 720, which can be achieved with just an 8-point surge from the big brother. The 4-hour chart has broken through the resistance level of the ascending triangle, indicating further bullish momentum; it feels like Binance is strongly controlling BNB and does not want it to move too quickly. In a bull market, the more mining and new listings, the better, as it can attract liquidity to Binance, achieving a win-win situation. Support levels are at 628, 622, and 615, and if it stabilizes above 651, we will watch the pressure at 666 and 675.

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