24/11/27 Bitcoin dropped by ten thousand points, a perfect reminder, reversing to pick up again for another entry opportunity. Will there be a chance to reach the second gap?
Bitcoin has dropped nearly ten thousand points from its highest point. A reminder was issued on the early morning of the 24th about the risk of a pullback, and during the day on the 24th, another reminder was issued regarding liquidation risk and that the key support should not be broken. This trend has not yet completed, and the correction is still an opportunity to enter. It has now broken the first CME gap; we need to pay attention to whether the second gap will be filled.
The New York Stock Exchange has applied to the US SEC to list Bitwise Bitcoin and Ethereum spot ETP, which is pending approval of the 19b-4 application and the effectiveness of the S-1 registration statement.
Bitcoin long-term holders sold 728,000 BTC in the past 30 days, the highest level since April.
Bitcoin
Bitcoin broke below the upward trend and tested resistance with a rebound last night, the daily line correction has not yet ended but will complete in early next month. The breakout at 74000 is considered the first wave, currently in the second wave of correction, and there will be a third wave upward. It may reach a peak of sentiment before Trump takes office. However, we are currently near a dense chip zone and need to pay attention to short-term rebound demands. The 4-hour chart shows a descending wedge, which will continue to explore the bottom and rebound.
The 4-hour BOLL is opening downwards with signs of crossing MA20 and MA60. Pay attention to the breakout of the descending wedge on the 4-hour chart, with rebound height looking around 96000.
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Ether
The daily line has formed two engulfing patterns, the rebound has not widened the gap and is directly affected by Bitcoin's correction. Currently, it is near support, and in the short term, there is still a chance to drop back to around 3014.
SOL and Bitcoin have certain similarities in their trends. After reaching a new high, there was a false breakout, and a correction in the range of 180-200 is needed for re-entry. We will continue to share more altcoins.
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