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Analysis of thoughts on the evening of 11.25 📈
After being pressured down to around 86600 in the morning, Bitcoin has slightly rebounded and is currently oscillating in a narrow range of 87000-87500, with no significant increase in trading volume and weak rebound momentum. The four-hour chart shows that after a peak in the early hours to a short-term resistance level, the upward momentum abruptly halted, with the bears pushing down for three consecutive candles. The price has broken below the 5-day moving average support, putting the bulls on the defensive. Core reminder: rebound ≠ reversal, do not blindly chase highs, the current bearish trend still dominates, and there is a need for caution regarding the risk of breaking the lower edge of the range in the short term. Ether is also under pressure and fluctuating, with insufficient rebound momentum, overall following BTC's weak performance.
The pancake rebounded to around 88500, 89500 for short positions, targeting a drop to 85500, and if it breaks, looking at 84500.
Ethereum rebounded to around 2950 and 3000, aiming for a short position with a target of 2850, and looking at 2750 after breaking down.
$BTC $ETH