11.20 Bitcoin still follows the logic of rising, and the retracement is still a long position; altcoins need to stabilize before having a chance.
Stabilizing and then pulling back to explode positions, Bitcoin's trend is very stable, while Ethereum and many altcoins fluctuate and continue to return to the starting point, the risk remains. As Bitcoin continues to rise but funds are not coming out, the next few days until the weekend pose a risk. Even if it goes up, it will still come down; there will be more rollercoaster-like market conditions. Leverage can be gradually adjusted, but for large-scale spot trading, moving several points or tens of points is not recommended; just wait.
I do not believe there will be a particularly large drop in the short term. If there is, I will definitely give a warning. Before that, the logic of entering long positions on retracements remains in place.
The market at this position is overly panicked, or rather, too fearful. Too many people are afraid that the market will collapse, and too many people are scared that this position will not recover. I feel the same way, but high-level market conditions are always present, so there's no need to worry. Just hold on and wait for me to say it's time to exit.
BTC Daily - 4 Hour Level Market Analysis
Bitcoin's market is still seeing people offloading continuously. The issue is not too big; there will indeed be a lot of selling at this high level, but the whales are continuously adding positions. Let the small chips offload.
The current market is relatively simple, and the retracement long positions remain stable. The high-level pressure is still rising, with the previous high acting as resistance, and support positions near 91800 and 90800. Just prevent the large-scale drop below 89800.
BTC Intraday Level Analysis
- After probing the intraday bottom, the market rebounds. The intraday pressure is around 93000-93300. The high-level still follows the logic of rising, and the suggestion is to focus on long positions on retracements. If the four-hour chart does not break the previous high, then the intraday market will start a new round of oscillation, with support around the top near 93500 and the bottom near 91200 oscillating back and forth.
- Ethereum's position needs to stabilize slightly, and the demand for catching up has arrived, with targets to break the pressure around 3500 and aim for 3800. However, the problem is that the market is particularly weak; it is recommended to take high positions when Bitcoin oscillates and low positions when it is stable. Just avoid chaos and disorder; be cautious of getting hurt.
