November 24 BTC/ETH analysis:

The Federal Reserve collectively turns dovish, and the market rebounds by 7000 points!

The US stock market is closed on weekends, and there hasn't been a particularly large inflow of funds. BTC instead rebounded sharply by 7000 points. At last Thursday's Federal Reserve meeting, some members had a dovish attitude, and the probability of interest rate cuts has increased. However, this does not mean that the market is warming up. Overall, there is a significant turnover rate due to panic selling around 80000 and institutions taking the opportunity to pick up cheap chips. The second round of oversold rebounds in technical indicators has formed a short-term bottom signal, but the long-term downward trend has not changed, resembling a preparation for the next round of adjustments by clearing the downward liquidity.

BTC
The four-hour K-line has three consecutive bullish candles. Although the short-term moving averages show a golden cross upwards, the quick pullback upon touching the upper Bollinger Band indicates that the short-term rise does not have the support of trading volume. For the market to reverse, it must at least stabilize above 96500. The intraday rebound resistance is at 8820. A strong rebound can only occur if it breaks above and stabilizes. Pay attention to 88900 if it can break above steadily.

Around the range of 8680-8730, the target is to look below 8570-8400 to break at 8220.

ETH
Around the range of 2795-2822, the target is to look lower at 2776-2738 breaking down to 2702.

Short-term trading is flexible and varies, and the defense is determined based on the actual situation of one's position! $BTC