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View on December 2nd
Hello everyone, I am Xinyi

This morning, the price of Bitcoin rose to around 981, but the hourly rebound pattern has not fully developed yet. It is expected that new movements will not occur until after 10 PM tonight at the earliest.

Ethereum launched another offensive this morning, showing strong momentum. Other altcoins have reached new highs, approaching historical peaks, while Litecoin has even surpassed the 120 mark. As Bitcoin may drop again to around 90,000 in the future, if Bitcoin cannot stabilize around 985 before dawn tomorrow, we should be alert to prevent a sudden drop in the market again.

Nevertheless, the upward trend has not ended, and even if there is a correction, it is likely to reverse quickly, mainly to wash out the high-leverage bulls.

Currently, on the market, the hourly level rebound mainly depends on whether it can break through and stabilize above 985. If it breaks through, it indicates that the 4-hour correction has not started, and in the short term, it will still head towards 100k, before starting a 4 to 6 hours level correction. However, the probability of this is relatively small at the moment.
The more likely scenario is that it cannot break through 985 for the time being, and then it will retest around 908, completing a 4-hour level correction. This probability is somewhat higher. For a cautious approach, continue to observe and wait for the end of this correction, we will continue to set up long positions at lower levels, and hold on until we see 100k!

In the afternoon, continue with the short position strategy
Reference
Look at 970-975 area, if it breaks 957, then look below