24.11.13 Bitcoin Early Morning Analysis

【Market Review】

Short sellers seem to have been driven to the edge, with their mental state somewhat frenzied.

If you can't beat them, join them, directly choosing to go long. Last night on the live stream, many brothers asked me what to do about the long position at 88K that was trapped,

and others asked how to break free from the short position at 68K? I was directly speechless.

Shouldn't you all reverse your positions, brothers? Shorting at 68K and going long at 88K—if you're not losing money, who is?

【Bitcoin Market Analysis】

Last night there was a sell-off of around 4000 points, which didn’t bring any joy to the short sellers, indicating that the bears are almost extinct.

After a slight drop, it seems that the liquidation volume for long positions reached several hundred million dollars; from here on, you need to be cautious.

Even if you want to chase the long, it's best to restrain yourself. Otherwise, if a double explosion of longs and shorts occurs, your assets will be directly frozen.

Today, we mainly look at whether the support at 89800 can be effectively broken; yesterday it slightly touched that level but it’s not considered an effective breakout!

Bitcoin is still quite strong, but many altcoins are lagging behind, such as ETH and SOL, so be mindful of the risks.

For spot trading, reduce positions where necessary.

【Ethereum Market Analysis】

Ethereum is much weaker than Bitcoin! Yesterday's daily K-line shows that careful observers will notice the phenomenon of increased volume with stagnation.

This is not a good signal; however, from a macro perspective, a pullback is a healthy trend, as mindlessly charging will only deplete potential!

3500 is a major barrier that’s hard to break; ideally, it should pull back to around 2800-3200 before pushing upward, which would be the best trend.