The market trend remains low and bullish.

CN
7 hours ago

Today is Thursday, November 20th. Let's take a look at the overall market trend and how to approach today's market. Naturally, the strategy is to go long at lower prices. As we reach the bottom of the larger cycle, the focus on the second floor is primarily on going long at lower prices. However, after this V-shaped rebound, we definitely need to wait for a pullback. What position should we look for to enter? The Bitcoin price is around 90,400, and we can consider entering long positions in the range of 90,400 to 90,000. In this range of 90,400 to 90,000, if there is an opportunity, we can enter long. In other words, after this V-shaped rebound, the opportunity to buy is when we reach this level, so when we reach this line during the buy phase, we can consider entering long.

Now, where can we see resistance above? First, we need to watch for a breakout at 93,800. If this level can be broken, then we will head towards 96,000. This is a pressure point for Bitcoin, and apart from this, there is no other resistance as we have already reached the bottom of the large candlestick. Therefore, the rebound strength may be relatively strong.

After not seeing a clear pattern, do not easily short the market. Back then, the second Bitcoin also reached a relatively marginal ice point. I have been telling my partners about the 2,880 level, which is a densely packed area of chips from earlier, and these are all entry points, reaching such historical ice points.

So, relatively speaking, the rebound strength may be quite high. Do not blindly short; you must wait for a pullback to go long.

Currently, the potential pullback levels for the second Bitcoin are:

The first level is around 2,950-2,960. When we reach this line, it is still a position for us to go long. During the morning analysis, I also went through these levels with my partners.

Consider entering long at 2,950 and 2,960. If it continues to break down from here, we will look at the potential levels of 2,880 and 2,850 for long entries.

What levels can we see above? The first level is 3,100, and the second level is 3,125. These are the two main resistance levels we are currently observing.

Further up, at 3,170 and 3,210, we will consider shorting at these levels.

Currently, the focus is on going long as much as possible. So, for those who want to accurately catch the bottom, please keep an eye on me. I will guide you in bottom fishing and taking profits in the trading field. It ultimately comes down to refining these two points: either taking profits or bottom fishing. Taking profits means cashing out your money, which is called securing profits.

Bottom fishing is about finding the right price to pick up money. For example, yesterday's levels of 2,880, 89,000, and 88,600 were indeed precise bottom fishing points.

For more strategies, follow the public account BTC-ETH Crypto.

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