November 20th Thursday morning trading strategy

The price of Bitcoin is now stuck around 91600. Over the past couple of days, it dropped to 88500 on the 4H chart and then bounced back. It looks a bit like it's "stabilizing after a drop", but don't rush to jump in.

Long opportunity: Wait for a pullback to buy low in the 90500-91000 range, add positions after stabilizing at 90600 (MA5), set the stop loss at 88500 (if this support is broken, it's basically hopeless), initially target 93400 (resistance level), and if it can break through, look at 95300.

Shorting opportunity: If it doesn't break through 93400-93500, short directly, set stop loss at 94000, and target around 91000.

Why do you think so?
Short-term indicators have given a bit of a "sweet hint": the MACD has just crossed upward, and the KDJ is also turning up, indicating that there is rebound momentum on a smaller scale; however, the overall trend is still bearish — all the moving averages are in a bearish arrangement, the price hasn't even touched the MA10, and there has been increased volume during the decline and decreased volume during the rebound, which is a typical "weak rebound."

The liquidity situation is more interesting: over 800 million U has quietly entered the contracts side, but the spot market is still dumping 190 million U, which means "futures are driving the market up, while spot is pulling it down." It's really hard to say whether this rebound can be stabilized.

In summary: it is now a "short-term rebound in a fluctuating bearish market"; don’t be greedy when going long, and when it’s time to run at the resistance level, just do it; if the rebound fails, it’s more stable to directly short.

#逆势上涨币种推荐 $BTC