11.23 Afternoon
Observing Bitcoin from a four-hour level, the market shows a pattern of slow rising with small positive candles, yet it has always struggled to reach previous highs. The candlestick bodies continue to narrow and become increasingly weak—much like a hiker who is physically exhausted; each upward attempt seems to lack strength, and the upward momentum has already diminished.
The hourly chart vividly displays the struggle beneath resistance: the upper Bollinger Band has become an impenetrable ceiling of strong pressure, and the frequently appearing upper shadow lines resemble tentacles that are forcefully pushed back after repeated tests, highlighting the heavy selling pressure above and the difficulty of breaking through.
Bitcoin's resistance is at 86500, with nearby support around 87200. Looking down to around 84000, if it breaks, look for support at 82000.
For the second coin, resistance is at 2840, with nearby support around 2880. Looking down to around 2750, if it breaks, look for support at 2650.
