Daily Briefing of the Chinese Community #Daily Report

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Release Date: 2025-11-20

Overall market sentiment
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The community shows a clear divide on the market direction: bulls believe that a temporary bottom has formed around 88500, expecting a rebound to the 92000-97000 range; bears emphasize moving average resistance and liquidity issues, believing that the rise is merely an opportunity to short at highs. The key point of divergence is whether the low point of 88500 last night is the true bottom, and whether 90200 and 92000 can serve as effective support levels. The market generally anticipates significant volatility tonight, with most traders choosing to stay up and monitor the situation.

Hot Topics
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• Controversy over rebound target: Technicians believe that the daily rebound target is at the 105000( daily MA250 position ), and if this position is broken, it may continue to rise to 112000; conservatives, on the other hand, believe that a rebound to 95000 would already be strong, with a high probability of sideways fluctuations in November, and a breakthrough to a new high is only expected by the end of December.

• Active options strategy: Multiple traders have started to profit from deep out-of-the-money call options around 90000, while some traders are setting up a DOGE doomsday butterfly strategy with a target at 92000 for settlement; there are also plans to close Call positions after a rebound to 105000 and open 70000 Put to hedge against downside risks.

• SOL shows relative strength: During this round of adjustments, SOL has demonstrated resilience, a 12-hour golden cross has formed, and it has outperformed ETH. The SOL/BTC and SOL/ETH trading pairs continue to strengthen, attracting some funds to shift from ETH to SOL for swing trading.