11.26 Wednesday, oscillating correction, rebound continues to short
It is once again the turning point of Wednesday. Recently, the price of Bitcoin has been weak and unable to break out of the range. Tomorrow will also be a day of oscillation. With Thanksgiving approaching, the US stock market will be closed. Regarding yesterday's market, it basically maintained an oscillating rhythm. The fluctuations were around two thousand points back and forth. Neither bulls nor bears have seen effective continuation. After providing a high short strategy yesterday, we also experienced several rounds of declines. In terms of the oscillating rhythm, both bulls and bears have opportunities.
In terms of the overall daily line trend, it is still in a downtrend. Although there have been some short-term rebounds, it is not a reversal of the trend. The rebound does not have much strength, and the price is still in a downward channel. In the direction of the large cycle, whether it is the monthly K or the weekly K, including the daily line, they are all in a weak form. Therefore, no matter how the market rebounds, I firmly hold a bearish view.
On Wednesday morning, it is recommended to short Bitcoin at 88500-88800, with a target focus on the 86000-84000 line.
True strength is not about never getting tired, but about choosing to move forward even when tired; it is not about having no tears, but about being able to walk steadily with tears in your eyes. Be gentle with yourself and also resolutely face life; the days will surely have answers. $BTC
