$BTC 2025.11.23 Market Analysis!

Today, the market experienced a rare rebound. Although the strength of the rebound is not significant enough to reverse the trend, it still helps to stop the recent sharp decline and boost market confidence. In fact, this price movement has not yet completely found the bottom, so every rebound is important. Yesterday's price, the big pie at 80,000 and Ethereum at 2,600, has a certain probability of becoming support. Of course, the severe test still awaits tomorrow, especially when the U.S. stock market opens at night.

Getting to the essence, news can be deceptive, but candlestick charts do not lie. First, look at the daily chart; the pin bar on Friday had a huge volume, and the monthly support has not been broken, which is a sign of a bottom.

The previous article suggested that Bitcoin would pull back to around 80,000 (monthly support at 82,500, round number at 80,000, weekly support at 78,400) before consolidating to build a bottom and then aiming for around 130,000.

The price points of this round of pullback have been reached; it now depends on whether the daily bottom structure can emerge from here.

However, currently, going long and bottom fishing still belongs to the left side, so it's recommended not to go all in; waiting for the second bottom to emerge before adding more is also acceptable. A true bottom will certainly provide you with right-side buying opportunities.

BTC has dropped from 126,000 to 80,000, a decline of 46,000 points, and the power of the bears has been greatly vented; it cannot keep falling, right?

Also, volume is a leading indicator of price. When there is a huge volume but the price cannot drop, it indicates that the bears are concentrating their strength but to no avail, and the bottom is not far off.

Additionally, the fear index has fallen below 10; after despair comes hope; can it go lower?

Very unlikely!

The bottom is a range, not a point, and there will be fluctuations, so both bulls and bears have opportunities. If you hold mainstream spot assets, do not trade in waves! At the same time, I also looked at the Coinglass data, the long-to-short ratio, and the position ratio of large holders; the bullish sentiment is too high, which aligns with the structure, and it will inevitably trigger a spike below 80,000 to flush out bulls, completing the final wave of cleansing.

The overall trend has not changed; spot trading is fine, but do not over-leverage or go all in.

Tomorrow, it is very likely to see a drop followed by an immediate recovery! The consolidation and bottoming process will take at least about a month!

At present, focus on generating cash flow; those who mine should mine well! At the same time, it is a good time to place orders and gradually build positions in quality projects!