11.29: Morning market overview:

BTC closed with a negative cross at 8 o'clock in the morning, indicating that the long and short positions are evenly matched

BTC is still oscillating in the 94632-97244 box range; the lowest pin touched the bottom near 94632 last night and immediately rebounded. This range support was also tested three times and rebounded back, indicating that this is still a strong support position. Bulls are accumulating funds at this position and the market demand is greater than the supply here, so the price rebounds back; the previous post said that the oscillation in the box is also an opportunity for us to eat orders back and forth. If we step back on the trend line and open more, we will be under pressure above and below the trend line, and vice versa

If BTC can stabilize above 97K, it will definitely continue to move upward to 99-100K; if BTC consolidates and lures more to come back to 90-91K for the second time, then it may really be a 1:1 double top callback near 86K; after all, the accumulation of funds by the dealers and institutions at the top has ended and no one is selling chips, so it is bound to return to the bottom again to continue accumulating funds; BTC support 94756 93999 93242 Pressure is expected at 95924 96658 97208

ETH is currently consolidating at 3538-3700 instead of making up for the rise; 3538 is a support-resistance exchange position so it is very important. It has stopped falling several times in a row. Bulls also absorb funds here and regard it as a temporary bottom support; in other words, the dealer has placed a large buy order here to stabilize it, and the selling pressure from above has been taken up by the bulls here; now Ethereum depends on the face of Bitcoin. If Bitcoin cannot go to 97K and fall below 94K, then Ethereum will definitely follow to the support of 3260; if Bitcoin goes to 99-100K as expected, then Ethereum will definitely follow to 3800-4000. Support is expected at 3519 3468 3417. Pressure is expected at 3659 3698 3717

In a nutshell: the current market is very torturous. It consolidates and then probes again, rebounds and then falls back. The repeated friction wears out the patience of the leeks. In the end, they can only sell at a low price to stop losses. In this way, the dealer achieves the goal of absorbing enough low-priced chips and then starts to raise the price. The leeks are left far behind; this is why the price of leeks falls when they buy them, and rises when they sell them. Therefore, we must know the dealer's means of absorbing and selling pressure, and also understand the dealer's absorption and selling pressure positions, so as to avoid being trapped and reduce losses as much as possible