#加密市场回调 Morning Observation on November 25:

This rebound has clearly come to a halt, and the bearish mindset should be maintained.

Looking at the four-hour chart, although the price has closed several bullish candles at the midline position, the problem is clear – each time it rises, it carries a long upper shadow and cannot hold steady. What does this indicate? The selling pressure above is heavy, and the bulls are already losing strength. More importantly, the price has been trapped between the midline and the upper line of the Bollinger Bands, and it hasn't even recovered the ground lost during the day.

Looking at the one-hour level again, after four consecutive bullish candles, the upward momentum has started to weaken. The signs of a pullback are already quite clear, and the continuity of this rebound has basically been falsified. The middle line of the Bollinger Bands continues to move downward, exerting increasingly strong pressure, and coupled with the weakening momentum indicators, the current market structure is becoming more favorable for bears.

In simple terms, the market has shown obvious signs of stagnation at a critical position. The strength of the bulls' counterattack this time is very limited, and in the short term, it is likely to continue to be dominated by weak fluctuations.

The operational idea is very clear, continue to short at the rebound resistance level:

Bitcoin is looking at the range of 89000-89500. You can gradually place short positions, with the initial target around 86000.
Ethereum focuses on the resistance zone of 2980-3050, which is also suitable for shorting, with a target below at the 2850 level.

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