Hot topics of Master Chat:
Ever since Bitcoin rebounded slightly and then surged to 97K, fans can't help but ask the master: "How will the monthly line close? Will there be another correction at the beginning of the month?" This question is asked almost every month at the beginning of the month, just like asking "Is it spicy" after eating hot pot.
In fact, the answer is similar. According to historical experience, there is always a small correction from the beginning of each month to the 5th, as if the market is taking a deep breath, catching its breath, and preparing to fight again.
Will there be a correction in early December? According to common sense, a small correction of 3-5K is more reliable, but a large correction of 8K to 10,000? We have to wait and see. The market is like buying vegetables. Who knows when the price will rise or fall? Before this, the master clearly said that he would not tell fortunes, but only believed in science.
But we have to remember one thing, we can make a layout wherever we stand firm. For example, the 9W mentioned by the master a few days ago has not been broken, and the recovery has fallen so much, how can we expect a big correction?
Now the momentum is not there yet, and guessing 80,000 or 70,000 is just a blind guess. We can continue to be conservative and bearish, but don't chase high prices. Staying rational is the right way.
As for short-term operations at the end of the month and the beginning of the month, don't rush to turn floating profits into floating losses. Just close the positions near the average price, simply lock in the profits, and don't cause trouble for yourself.
The strong support area below is 94600-93800 (short orders can take profit here). When it falls back to here, you might as well take a low long order directly. The target is 95850-96300-97850. Just run when you get it, don't leave regrets for yourself.
Oh, by the way, the Federal Reserve Wedge Paper was released on December 4th. In the past, from December 4th to 6th, the market was likely to experience a "needle-prick" decline. This is also a good opportunity to go long, and then operate according to the point when the time comes.
Currently, Bitcoin and Ethereum are in a sideways fluctuation, just like lazy old dogs. It is the best choice to enter long orders when the price falls back, and avoid chasing highs. As long as it does not fall below the current support, there is no need to blindly short the next support level.
Key point: Once the price falls below 94500-93800, consider tightening operations; otherwise, the 94600-96300 oscillation zone can continue. The 94666 point has been touched twice. If it rebounds and breaks through 96300 today, you can still boldly buy low when it falls back to 94666 next time.
In the past 12 hours, the liquidation of short orders of Bitcoin at 96650 has reached the highest point, which is the current resistance. The market trading volume is sluggish at the end of the month and on weekends, and the rebound will not be too strong. Don't rush to chase highs in short-term operations, leave some tail positions and move the stop profit.
In the short term, there are many short positions in the 99100-99700 range, which will be liquidated sooner or later. If 97700 breaks through, the shorts will start to get nervous. The 91600-92000 range below is a strong support, with strong rebound and not easy to break.
Master looks at the trend:
Bitcoin is currently fluctuating in the 94.9K ~ 96K box range in the short term. While the low point is rising, the K-line remains above the 20-day moving average, so the view of a rebound can continue to be maintained.
Even if the pullback fails, as long as the low is improved, it can be seen as an entry opportunity.
Resistance level reference:
First resistance level: 97500
Second resistance level: 97000
Support level reference:
First support level: 94900
Second support level: 93350
Today's suggestion:
Today, we can pay attention to the fluctuation of the box range and look forward to the stabilization of 96K. Due to the current low trading volume, there may be continuous adjustments. For ultra-short-term traders, if the 94.9K support is maintained during the adjustment, it can be regarded as an entry opportunity.
11.29 Shiye band pre-embedded:
Long entry reference: 94700 light long position. If it falls back to 93600-93350, go long directly. Target: 97000-97500
Short entry position reference: No reference
