11.29 Saturday Afternoon Review

Looking back at the early morning market situation, the reason for Bitcoin's plunge is mostly related to the People's Bank of China. After Bitcoin reached a short-term high of around 93000, the bullish momentum weakened and failed to break through, instead rapidly retracing to near the low point of 90100. The reason for this retreat may be due to a meeting released by the central bank.
From the current market perspective, on the 4-hour level, the market is dominated by three consecutive bearish candles operating near the middle band, with the upper and lower bands moving relatively, and the Bollinger Bands show signs of convergence. The middle band can serve as short-term support. On the 1-hour level, after yesterday's surge, the downtrend has not diminished. Therefore, we will first look at the 90,000 support level tonight. If this support is broken, we will continue to short.
Short at around 90500 for the lunch break, target near 90000,
The area around 3005 is empty, targeting around 2900.
The central bank held a meeting to emphasize the risks of virtual currencies and stablecoins.
The People's Bank of China held a meeting on November 28 to combat virtual currency trading.
Coordination mechanism meeting for hype work, Ministry of Public Security, Central Cyberspace Affairs Commission, the most
The relevant leaders of the Supreme Court and the Supreme Procuratorate attended the meeting. The meeting pointed out that recently
Speculation and hype in virtual currency have been on the rise, and related illegal activities are occurring.
There has been an occurrence, and it reiterates that virtual currency does not have legal tender status. The meeting particularly
It is mentioned that stablecoins, as a form of virtual currency, cannot be effective.
Meet customer identification and anti-money laundering requirements, and there is a risk of being used for money laundering.
and the risks of illegal cross-border fund transfers. Various departments will continue to adhere to
The prohibitive policies on virtual currency severely crack down on related illegal financial activities.
Move. #十二月降息预测