Bitcoin Market Analysis (November 24)

The market may seem chaotic, but it always moves along the shortest path. Don't guess, just follow; time will tell. Hello everyone, I'm Trader Gege. Bitcoin has broken down completely, so according to the previous bull-bear market logic, the bear market has officially begun. Today's article has two main points: first, to predict the recent trend and the prices to watch; and second, to predict the bottom of the bear market. Long-term and spot traders can refer to this, provided your account is still alive, as this round of decline has already wiped out many long positions. Especially the slow decline from the high of 107,000 on November 11th to the final plunge to 80,600—this slow decline is more terrifying than a violent plunge, not only tormenting your account but also your mindset. Some say this bull market is different because the participation of ETFs and large institutions will break historical cycles. Some people say that even if this round enters a bear market, it will be different because of the existence of ETFs. Institutions and long-term believers will support the market and prevent a deep drop. However, the simplest purpose of institutions entering the market is the same as yours and mine: to make a profit. So perhaps the buying pressure will turn into selling pressure, and the biggest bull will also be the biggest bear. So don't be too superstitious about these things. Just guard your own little corner of the market.