Bitcoin Market Report - November 20, 2022

The aforementioned market performance is noteworthy. Yesterday, Bitcoin price showed remarkable performance, once reaching above $92,000. However, the upward momentum seemed a bit rushed, and soon after, it adjusted back down to around $91,000. Today, the market failed to stabilize above the $93,000 mark, instead experiencing another downward fluctuation. The current price hovers around $91,800, with $63,000 above possibly constituting strong resistance, and the market may maintain a high-level consolidation pattern.

From a technical perspective, although the price has stabilized and rebounded, the upward momentum is still insufficient, and it has not yet broken through the mid-term moving average resistance. Therefore, there is a risk of a renewed decline towards the support level in the future. Overall, the market may present a fluctuating consolidation trend. Investors may tentatively position long orders while also being prepared for volatility.

Hourly chart trends to watch:

▶ Bitcoin 92,000-91,500 fluctuating bullish, target 95,000

▶ Ethereum 3,080-3,060 fluctuating bullish, target 3,170#MEME趋势风向 #上市公司比特币战略