11.18 Morning Thoughts

The 4-hour level shows a clear downtrend. Although the technical indicators suggest that the downward momentum may be slowing down, the overall outlook remains weak. The price is currently approaching the critical support level of 91173, and the risk of a breakdown should be taken seriously. From a technical perspective, the bearish engulfing pattern of the candlestick combined with the bearish arrangement of moving averages creates a resonance, further intensifying the downward pressure in the market. However, the current price is in the oversold range, and trading volume remains low, so there is a possibility of a weak rebound in the short term, although the rebound space is expected to be limited.
The pancake rebounds to around 92000-92900, aiming to look down at 90900-90000.
The second bounce is around 3080-3120; the target looks at around 3000-2950 #逆势上涨币种推荐 #美联储会议纪要将公布 $BTC $ETH