11.23 Saturday Morning Insights: Overnight Bitcoin once again surged to a high, with back-and-forth trading between bulls and bears. What will the subsequent market look like?

Overnight, Bitcoin rose to a high again, and the price has experienced a certain level of enhancement, just a step away from the 100,000 mark. How will the market move forward? Bitcoin has shown a strong rebound with five consecutive daily gains, and from the perspective of weekly rebound space, it has also formed four consecutive weekly gains. However, we need to pay attention to whether the 100,000 mark can stabilize, as we should guard against the risk of the market probing high and then retreating. It is not advisable to chase the highs; previously, the market was steadily rising, but with the release of volume, we must also be cautious of the risk of probing high and retreating!

From the 4-hour chart, we see a strong rebound upward relying on the middle track. Today is Saturday; whether the market will continue to rise or maintain the previous tug-of-war trend remains to be tested. However, according to my personal prediction, there will be a conversion of pullback waves today, which means probing high and retesting. The closing position will determine the strength and continuation of the market: whether it will probe high and close low or probe high and then consolidate sideways for correction will determine the short-term strength shift. In terms of the market, there is still a significant risk of probing high and retreating, so it is not advisable to chase the highs today. The main strategy could be to attempt to short after a rise!

In terms of morning operations for Bitcoin, I personally suggest selling on the rebound at 99350-99850, targeting a lower range of 97500-97000!