Bitcoin price update on November 24th

This article was written at 13:48 From a weekly chart perspective, while Bitcoin's recent decline was rapid, it didn't result in a major breakdown. The overall trend is considered a normal pullback, although the speed of the pullback is somewhat surprising. Currently, the weekly decline has touched the support level of the rebound from 74505 to 126178, which is around 85500. The weekly candlestick closed higher after the decline, indicating that the short-term support at 85500 is effective. The chance of the market continuing to fall below 74500 is not high; there will likely be a rebound opportunity first. This is still considered a relative bottom. Long-term traders can consider establishing long positions, or wait for a pullback to around 85 before entering long positions. The rebound target is expected to be around 108500. Short-term traders should not go long directly at the moment, but wait for a pullback before entering long positions. The recommended entry point is around 85000, with a possible addition at 84000. The stop loss is at 8200, and the target is around 91000. Those who want to capitalize on the short-term pullback can do so, depending on their entry opportunities. Click on the profile picture above to open my profile page and discuss market trends together; short-term trading, manage risk, and be responsible for your own profits and losses;