Good morning everyone, let's talk about how we view Bitcoin today.

The daily chart is still in a downtrend channel, with resistance at 99248. When zoomed into the 1-hour chart, resistance is at 93080; looking further down to the 15-minute level, resistance is around 91934. Judging from the hourly trend, the downtrend has not ended temporarily, so I plan to hold onto my short position for now.

Two strategic ideas:
The conservative traders can wait for a rebound to the three resistance levels mentioned above before considering to place short positions. For those who want to be more aggressive, they can also try shorting at the 87904 level, but they need to manage their positions well.

Remember one thing—technical analysis is just a reference, the market can change at any time, and stop-loss should still be set.

BTC-0.64%

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AirdropChaser

· 12-03 05:09

I'm also watching the 87904 level. It's just that when my hand slips, I tend to chase the highs and I'm afraid of getting trapped.

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ChainSauceMaster

· 12-02 13:10

I've already been lurking at this position 87904, just waiting to see if it can fall one more time. This market is really testing my patience.

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AirdropCollector

· 12-02 04:52

Continue to hold the 空单, there is still room for this wave down, that position at 87904 is indeed tempting.

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CryptoFortuneTeller

· 12-02 04:51

It's falling again, I'm just watching and not taking action, the coins in my hand are frozen for now.

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BlockchainGriller

· 12-02 04:51

The resistance at 99248 still hasn't been broken. I think we need to continue being bearish; anyway, as long as the stop loss is set properly, there's nothing to fear.

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MysteryBoxOpener

· 12-02 04:37

I'm also watching that position at 87904, but with this wave falling, I really don't know if it can hold, it feels like there are still variables.

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PessimisticLayer