At about 10 o'clock today, Bitcoin rebounded strongly after falling back near the lower track of the 1-hour Bollinger Band, quickly approaching 97,000, and cleared the large short orders within 1k points in one fell swoop.
If Bitcoin does not effectively fall below 95,000 at the end of the month and the beginning of next month, there may be a strong upward attack after the release of the Fed's wedge paper on December 4, starting a new round of unilateral rise. Although the Bollinger Bands on the daily chart open slightly downward, this trend is not obvious, and the 12-hour level chart has begun to turn upward on Wednesday afternoon, which has basically curbed the further deepening of the daily adjustment, so I think the adjustment stage is nearing the end.
It should be emphasized that "the end of the adjustment" does not mean that the correction on Monday and Tuesday has completely ended, nor does it mean that there will be no decline next.
The market will never have no correction, and the rise is always accompanied by a certain degree of decline. However, in the bull market, whether in the short term or in the medium and long term, buying on dips is still the main trading strategy.
