1. Market OverviewAccording to the K-line data provided, the current closing price of BTC is 92,506 USDT, reflecting the extremely strong price volatility in the past two weeks. In the 14th day, BTC went all the way down from the daily high of 116,400 USDT to the lowest of 88,608 USDT, accompanied by a large drawdown and high trading volume, indicating that the bears continued to dominate. The hourly candlestick of the last 2 days shows that BTC rebounded quickly after falling below $90,000 yesterday, returning to the range of 91,800 to 92,700 USDT, but the rebound potential is limited, the market lacks a consistent direction, and the short-term volatility is fierce. The trading volume shows that the daily trading volume in the plunge phase (90,000 to 89,000 range) has been significantly enlarged, with the recent daily trading volume reaching a maximum of 24,362.7 BTC (at the beginning of the high-level decline), and it has shrunk during the rally, reflecting the lack of confidence of the bulls. On the whole, the market atmosphere is panicked, although the downward momentum has eased, but the buying return is limited, and the willingness to buy the bottom is not strong. From the perspective of analysts and the interpretation of relevant news, the overall market sentiment is highly cautious and pessimistic, and some short-term funds are trying to rebound, but the large-scale sentiment is still dominated by high-risk aversion. 2. Technical analysis daily K data shows that BTC has continued to fall from a high of 116,400 USDT, forming a steep downward channel. In the past five days, the lows have continued to move downward, falling as low as 88,608 USDT, and then rebounded but have been blocked near $93,000 several times. The obvious support level is located at 88,608 USDT (the lowest point in the past two weeks), and the upper pressure is concentrated at 93,836 USDT (the high point of the previous round of reversal) and 96,846.7 USDT (the pressure range of the short-term rebound on the daily timeframe). From the hourly candlestick, the BTC fluctuation range in the last 48 hours is basically between 89,000 and 92,700 USDT, which is highly volatile. The hourly trading volume is rapidly amplified with the price decline, suggesting that there are funds in the decline to buy the bottom and rebound in the short term, but the range is limited, and the short-term is susceptible to violent fluctuations due to external news. Mainstream short-term technical indicators such as MACD (data not provided separately) are difficult to fully interpret, but combined with the high-level decline and volume changes, the market is still in the rebound repair cycle induced by inertial decline, and the rebound height and duration are limited. 3. News and Policy Interpretation News and information show that the pessimistic atmosphere runs through the overall situation. A number of reports have raised market panic, with many analysts warning that the target may fall to 88,000 USDT or even lower. Well-known analysts clearly put forward the "active stop loss", the focus on the rebound is highly limited, and the dominant view is that the pullback is not over yet. In addition, "Nvidia's earnings report exceeded expectations" stimulated a short-term rebound in BTC, but buying was still cautious after the rebound, and although there were changes in mining-related concepts, it failed to drive the main coin to continue to be strong. In terms of macro policies, no new policies have been released in the past 24 hours, and the overall environment has not directly intervened in the price of BTC; The absence of regulatory and policy events has left the market fully exposed to internal money games and short-term news. Fourth, the integration of analysts' views - "#btc night ambush long entry: 88600-88000 take profit: 90200-91800 stop loss: 87000 (enter in batches, light position attempt)"— "Btc long night pending order 87800-88300 near SL: around 86800"— "Accurate forecast on November 7 #BTC fell to the 88k-92k range, Now the goal has been successfully reached. From the perspective of the daily line, it tends to be a five-wave decline rather than a three-wave decline, and the current trend is more like a rebound than a trend reversal, and the core idea is still to be short. — "There is no need to stay up late and wait for the news, sleep and place orders at extreme points, what 87588, 83888, 70,000 are arranged." The above analysts' views are highly unified in the downward cycle has not yet been completed, it is recommended to try long light positions or go long at extreme points, resolutely implement stop loss, and the core strategy is still prudent defense, focusing on shorting on high prices. In fact, combined with the K-line data, the BTC price has indeed fallen to the lower limit set by analysts, and has shown a weak rebound around 88,608 USDT and 91,800 USDT respectively, indicating that the actual trend of the market is in line with the view. However, from the perspective of the height of the rebound and the market volume, the suggestions of "limited rebound height" and "short on the high" put forward by analysts are highly consistent with the actual market. 5. Future trend prediction and operation suggestionsAccording to the K-line trend, BTC may continue to trade sideways in the range of 88,600-93,800 USDT in the short term. If the subsequent rally fails to effectively break through 93,800 USDT, it will continue to face a downside test. The lower strong support level is at 88,608 USDT, and if it breaks below this area, the market may test the 87,000-86,800 USDT extreme support zone (corresponding to the analyst stop loss level). At present, the volume of energy is still concentrated in the plunge zone, the rebound is still a short-term repair, and the trend has not reversed. Operation suggestions:1. Aggressive models can rebound in the range of 88,600-89,000 USDT, take profit in the range of 92,000-91,800 USDT, and resolutely enforce the stop loss around 87,000 USDT. 2. Conservative advice to avoid the risk of range shocks, it is not advisable to participate in heavy positions, and wait patiently for the daily level to stabilize or key news to land. 3. If the price rebounds to 93,800-96,800 USDT and encounters resistance, you can place short positions in batches, and the strategy is mainly defensive to avoid chasing up and down. 6. Risk WarningAt the current stage, the BTC market is highly volatile, with a sharp decline in the short term, combined with the obvious amplification of the daily K trading volume, the market is actually a high-risk area. If it falls below the 88,600 USDT support, there may be a new round of rapid decline. If there is no significant amplification in the rebound, it means that the funds are still mainly risk-averse, and it is difficult to form a trend reversal. Be sure to set a clear stop loss during the operation, do not take heavy positions and chase high, and beware of passive risks caused by violent fluctuations. To sum up, although BTC has rebounded weakly, the bearish pressure has not disappeared, the trend is not yet clear, investment needs to strictly adhere to the bottom line of risk, pay attention to the two key technical levels of 88,608 USDT and 93,836 USDT, and avoid blindly buying the bottom or following the trend to chase the rise.