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Silk Road on the morning of November 27


Reviewing yesterday's market situation, in the morning, Bitcoin surged to a high of 88224 before experiencing downward fluctuations due to pressure from above. After reaching a low of 86851 in the afternoon, it stabilized and rebounded. In the later afternoon, it attempted to rally again but failed and entered another correction. In the evening, it touched a low point of 86306, and then buying power pushed the market to fluctuate upward. The altcoin showed strong correlation with Bitcoin; after synchronously rising to a high of 2984 in the morning, it fell into downward fluctuations. Throughout the day, it faced continuous pressure and adjustment, and after dipping to a low of 2888 in the evening, momentum was released, leading to a phase of rebound.
According to the current market conditions, the daily level shows that after a significant decline over a certain period, the market has warmed up above the lower Bollinger Band. The current pattern also exhibits an alternating movement of small declines and small gains, clearly indicating that the overall market has entered a phase of consolidation and is building momentum for subsequent adjustments. All indicators at this level show upward turning actions, and while the volume has sharply decreased, the signal has sounded the horn for a counterattack. Therefore, the overall market sentiment is about to shift from weak to strong. From the four-hour level, the market continues to oscillate around the middle line of the Bollinger Band. Although the continuous narrowing of the Bollinger Band's opening has resulted in a lack of significant range in the current pattern, the middle line still maintains a slow upward trend. Additionally, recent higher lows after pullbacks indicate that the overall pattern remains favorable for the bulls. Thus, in the early session, we focus on buying during the pullbacks.
Operation Suggestions
BTC: around 90000-88000, target near 91500
The second pie: around 3000-2980, target near 3150.
BTC0.03%
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