November 26 Market Analysis 📊
Bitcoin (BTC) Market:
Yesterday, Bitcoin experienced a pullback. Although there were no significant negative news, the short-term decline was substantial, breaking through the support level of $93,000, exceeding market expectations. We have repeatedly reminded investors to reduce their positions, so this pullback is considered a normal market adjustment and does not require excessive concern. It can be seen as a consolidation process before Bitcoin attempts to breach the $100,000 mark. It is expected that Bitcoin will continue to maintain a consolidation state today, with a key focus on whether the $93,000 support level can hold.
Ethereum (ETH) Market:
Ethereum (ETH) followed Bitcoin's pullback, but the decline was relatively smaller. ETH broke through the important resistance level of $3,500 yesterday, and today's performance will depend on Bitcoin's consolidation. If Bitcoin can maintain its current range, ETH is likely to continue rising and catch up.
Technical Indicators:
Bitcoin (BTC)
The 1-hour and 4-hour charts show that the current level is slightly below a healthy state, but the daily chart remains in a relatively healthy range. It is expected that today will be dominated by consolidation, and the long-term upward trend remains unchanged.
Intraday Support Level: $92,000 - $93,000 📈
Intraday Resistance Level: $95,000 - $96,000 📉
Ethereum (ETH)
On the 1-hour, 4-hour, and daily charts, ETH remains at a healthy level or higher, and is expected to continue to catch up in the short term.
Intraday Support Level: $3,300 - $3,350 📈
Intraday Resistance Level: $3,550 - $3,600 📉
Summary: The current pullback of Bitcoin and Ethereum is a normal adjustment. In the short term, it may be dominated by consolidation, but the long-term upward expectations remain strong. Investors should pay attention to their respective support and resistance levels and adjust their positions flexibly.
