Cryptocurrency Market Analysis on November 26
Today is November 26, 2024, and the BTC price is 29868.
1. BTC Market Trend
Yesterday, we mentioned that BTC has entered a wide range of fluctuations, and one should be wary of a double whammy for both bulls and bears. Overnight, it began to decline from 98000, and how long it will drop as well as where to go long can be further inquired for details.
BTC closed with a bearish candle on the daily chart, which caused the largest decline in recent times, signaling the end of BTC's consecutive rise for now. However, the market remains within the anticipated range, so there is no need for concern; it is still an upward trend.
This bearish candle is essentially an invitation for bulls; after BTC transitions to wide fluctuations, there are both high short and low long opportunities within the range, providing more chances for short-term contract operations.
2. Altcoins and ETH Market
Among altcoins, those that are at low levels and have not risen, especially coins in the AI sector, can continue to hold onto their spot positions if the decline is not significant (He Yu Jun achieved 10 consecutive wins yesterday).
ETH is performing stronger than BTC, and altcoins are even stronger than ETH, which is a signal more favorable for short-term operations and profits. The market can at least remain stable under these conditions, and wide fluctuations are expected to last for 8 to 10 days. Knowing this market script, short positions/selling were opened during the day yesterday, and long positions/bottom fishing were initiated at night, resulting in dozens of profitable trades within a single day.
Accurate market analysis leads to smooth operations and easy profit results.
3. Future BTC Trends and Key Levels
BTC is unlikely to continue falling consecutively from this point and will likely see a rebound.
The latest by the day after tomorrow morning, a 4-hour level rebound will be initiated, forming high and low points in fluctuations. Bulls should cherish the opportunity for a pullback; specific operations can be referred to in today’s video analysis.
The short-term resistance levels for BTC are 96510 - 97820, the first support level is 92550, and the second support level is 90000.
In summary, the overall market is still in a bullish trend, and there is no need to be pessimistic.
