November 21st Midday Thoughts:

The price trend of Bitcoin continued to write a glorious chapter yesterday, soaring upwards and successfully breaking through the critical level of 94000, and then launched an attack near 95000. However, after facing pressure at the high, it began a retracement journey, and the market has since entered a consolidation range. Entering the intraday trading period, the upward momentum has significantly weakened, and the price has slightly retreated, currently stabilizing around the 94000 level, presenting an overall oscillating pattern. Therefore, the intraday trading strategy should not be overly aggressive, and a flexible operation of high shorts and low longs is advisable.

From the four-hour chart, the price encountered strong resistance near 95000, and the short-term market fell into a high-level oscillation mode. Although there was a retracement near 94920, it has not been able to surpass the critical resistance line of 95000. If the subsequent trend still cannot achieve an effective breakthrough, the price is likely to continue the retracement trend. Thus, at the current price level, one must not blindly follow the trend to chase prices and should always be alert to the risk of a market reversal and downward movement.

Big Cake 95800-96000 short, looking down at 94400-94600

Second Cake 3120-3150 short, looking down at 3040-3060

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