11.26 Morning Silk Road
The popular candidates for the new chair of the Federal Reserve tend to favor interest rate cuts, coupled with weakening employment and retail data, along with some progress in the U.S.-Russia peace agreement. The overall sentiment is—mixed messages stirring together, with the market leaning towards volatility.
This wave of Bitcoin's rebound touched around 88400 and was pressed back down. The daily line remains below the middle track, with no substantial change in trend; the rebound volume at the 4-hour level is very weak, and the KDJ is still in a high position and is becoming dulled, indicating that the bears still have stronger control;
Overall, it looks like a "weak rebound + bearish volatility" structure right now, with heavy pressure above. Any rebound is basically an opportunity for bears to enter or increase their positions.
Personal recommendation
Bitcoin: South down in the range of 88000-88800, targeting 86000, 85000, and if it breaks down, looking at 83000
Ethereum: South down in the range of 2980-3020, targeting 2850, 2800, and if it breaks down, looking at 2700
