#BNB突破历史新高 November 21 market data observation:

Last night, the market was hit hard. The US stock market opened weakly, with the three major indices fluctuating downward. Bitcoin fell sharply from its high, with a single pullback of nearly 5000 points, barely stabilizing around 86000. Ethereum couldn't escape this time either, diving along with the market and hitting a low of 2788, dropping over 300 points.

From a technical perspective, there are two dimensions:

On the daily chart, the price keeps hitting new lows for the phase, with a lack of decent support structure below. The bears are completely in control, leaving the bulls with no chance to breathe. This one-sided downward momentum is likely to continue searching for a bottom in the short term.

Looking at the four-hour cycle again - after four consecutive bearish candles, there was a technical correction. But to be honest, this rebound is quite weak and cannot break through the upper resistance zone at all. The overall framework remains weak, with clear resistance above. Is it difficult for the bulls to turn things around? Yes. A bearish oscillation is still the main theme.

On the short term, one can consider gambling on a rebound for correction:

Bitcoin can attempt to go long in the range of 86900-86400, targeting around 88500-89000.

Ethereum focuses on long position opportunities around 2830-2810, with the target set in the 2900-2920 area.

$BTC $ETH