11.23 Midday Analysis
The Bitcoin price rebounded after hitting a low this morning, stabilizing after a minimum drop to 93655, then surged to a high of 96488 before slightly retreating. The tug-of-war between bulls and bears has become the main rhythm. Ethereum experienced a stepwise decline in the early morning, hitting a low of 3219, followed by a sideways movement, and then surged to 3362 before coming under pressure in the afternoon.
The current market is leaning towards weakness, with the four-hour chart showing a weak pullback trend. The middle band of the Bollinger Bands presents strong resistance, having been tested multiple times without breaking. Support is at 93000, with two tests of the low this morning both being pulled back up, but the rebound lacks strength. The daily chart shows a doji with long upper and lower shadows, indicating balanced energy between bulls and bears. In the afternoon, it is advisable to buy on dips and seize entry opportunities.
Trading Suggestions:
Buy Bitcoin at 94000 - 94500, target 96500.
Buy Ethereum around 3250, target 3350.
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