Morning of 11.24

After two days of consolidation over the weekend, Bitcoin showed a weak recovery, but it’s important to note: a rebound ≠ a reversal. This round of uptick is only a technical correction after the previous sharp decline. After surging to around 88,100 in the early morning, it faced resistance and pulled back, quickly dropping to around the 86,000 mark as of now, with insufficient momentum on the bullish side.

From the 4-hour technical perspective, the Bollinger Bands are narrowing downward. Although the price has been testing upward with small consecutive gains and gradually recovering from the short-term support level, it has not reversed the overall downward trend structure. In terms of trading strategy, it’s still necessary to follow the main trend, focusing on short positions at higher levels, and be alert to the risk of a secondary drop after a weak rebound.

BTC rebounds near 87,500 and 88,200, targeting around 85,500; if it breaks down, look to 83,500.
ETH rebounds near 2,830 and 2,880, targeting around 2,730; if it breaks down, look to 2,650.
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