Xiang Li: November 28th, Morning Big Pancake and Second Pancake Operation and Analysis

In the early hours of yesterday, the crypto market once again experienced a "roller coaster" trend, showing an overall pattern of rising first and then falling. The Bitcoin price bottomed out at 90800 in the morning, quickly climbed, and reached a high of 91800. However, due to a lack of upward momentum, it was unable to maintain that level and subsequently fell back to around 90700. Similarly, Ethereum exhibited the same trend as Bitcoin, starting its rise at 2988, aiming for higher levels, and peaking at 3043. Unfortunately, the resistance above was too strong, causing it to fall back to around 3000. The fluctuations in this period indicate that the current crypto market lacks momentum in the face of key resistance levels, with significant upward pressure in the short term. Attention needs to be paid to the defense of the support levels below.
Egg Brother has moved into the downward channel, currently running close to the lower track, with a synchronous trend of southward movement among the three tracks. This undoubtedly indicates that the current downward trend is quite obvious. In the MACD indicator, the fast and slow lines have already formed a dead cross in the strong area above the zero axis, accompanied by stable output of the momentum bars and a continuous increasing trend. This suggests that the upward momentum has exhausted, and the risk of a pullback or oscillation downward in the short term is significantly increasing. Furthermore, in the KDJ and RSI indicators, all three lines are simultaneously arranged in a descending manner towards the weak area in the high range, indicating that the current market is about to undergo a period of technical adjustment, which may lead to a change in the overall pattern. Looking closely at the 15-minute chart, all indicators point to the downside, and a downward trend has already formed.
Technical indicators across various dimensions have formed a bearish resonance signal, and the overall pattern of the market is likely to have shifted from an upward trend to a sideways decline. In the morning operations, attention should be focused on the support strength of the lower channel line; if it is effectively broken, it will mean that further downward space will be opened. However, based on the market trends over the past two days, even after a breakdown, a rebound is likely to occur. Overall, both sides have opportunities. In the absence of a unilateral trend, one should grasp the entry points and enter decisively; if resistance is encountered, exit decisively!
Big Pie: 90000-90500 Dokan 92000
Two cakes: 2970-3000 Dokan 3100

#BTC #ETH