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Hi everyone, I am Xinyi, let's talk about the outlook for the market. Bitcoin has actually spent the whole day of the 28th in volatility, the trend is relatively sluggish, and the U.S. stock market is closed for one day due to the Thanksgiving holiday in the evening, so the trading volume is naturally not that active.
Currently, the price of Bitcoin is fluctuating at 950. Looking back at the high point established last night, Bitcoin did not have a strong correction, but fluctuated. This shows that Bitcoin's ability to carry on is still relatively strong. 996-the lowest correction was 908, and it rebounded directly to 972. This can already show that the decline is just to repair the daily gap after the sharp rise last week, not a deep correction. At present, it is considered an adjustment. I said before that this wave of arc tops has been completed, so there is no need to worry about the risk of Bitcoin hitting a new low. The short-term low is fixed at 908, which is nothing more than buying more as it falls, and betting on 100k Bitcoin. Bollinger closes, and the short-term high point of the support rises is the current 972.
At present, a downward channel has indeed been established in the short term, but don't forget that our bullish trend is already confirmed. Once the bears fail to create a new low, this channel will collapse. As long as the 4-hour K line stands above 957 again, it means that this wave of callback is over. If 917 is not broken, it is still a bullish trend. Then just go long.
Reference
Big cake breaks through 957 again, 950-957 decisively
Big cake If the two-hour line falls below 950, then you can consider shorting
Short at 957 in the morning, defend 96620 and look down at 93800
