Friday evening analysis of Bitcoin market on November 29!

Bitcoin retraced to around 95600 after dropping near 96800 in the afternoon, then rebounded back to around 96800, currently hovering around 97200, overall showing a V-shaped pattern. We have repeatedly reminded to buy on the dip throughout the day, and the market has performed as we expected, with Bitcoin making a stretch in the evening, successfully reaching our target point, achieving over 800 points of space!

For those who exited their long positions or did not enter, there is no need to rush; we can only wait for the opportunity to enter! From the intraday liquidation chart, if it rises to around 97800, 190 million in shorts will be liquidated. However, if it retraces to the 94300 line, 343 million in longs will be liquidated, so the risk of a retracement must be guarded against! For those holding long positions, consider taking profits around 97800 and then wait below for lower entry points! If you want to enter long, consider the two positions below at 95700 and 94700, as the positions are too low and might not get filled, so a slight adjustment is necessary, but keep the position light. For those looking to go long, every retracement is an opportunity for us to enter, allowing us to buy in at a lower cost!

In summary, we continue to be bullish, but do not chase highs. Buy on dips at 95700 and 94700, and look for bullish positions at 96700 and 97700.