The market data has been really chaotic these days at the end of #数字资产市场观察 .

Today, 93000 is clearly a resistance level, with heavy selling pressure. In the evening, the bulls and bears tested back and forth, and in the early morning, there was another drop following the outflow of ETF funds.

The overall trend is still weak. This round of adjustment has lasted so long, and looking back at historical data, there has hardly been a rapid V-shaped reversal at the monthly level. So it's still early to talk about a bottom. In the coming months, we will likely have to repeatedly test the bottom. Currently, this wave of rebound is mainly betting on the expectation of a rate cut in December—judging from the news, the probability of a rate cut by the end of the year is indeed not small, but we still need to observe when this positive factor will be fully realized.

In intraday trading, focus on the support test below. If the defense line of 88000 holds, there is still room for the positive outlook in December, and the rebound will be strong; if the rebound reaches a high and cannot stabilize, that will be just the right time to position for long-term short orders.

Personal opinion: If Bitcoin stabilizes around the 88800 level, this wave of rebound is not over, and short-term longs can follow. However, in the last few days of the month, the fluctuations will be more chaotic, so if you're unsure of the direction, it's advised to watch more and act less.

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