Due to the impact of the Thanksgiving holiday in the United States, the U.S. stock market is closed today, and the cryptocurrency market is expected to continue its low trading pattern. Bitcoin has faced significant pressure while trying to recover the $92,000 mark during the day and is currently in a phase of consolidation after a technical pullback. Given the lack of momentum from the U.S. stock market, the evening market is likely to maintain a narrow range of fluctuations, and short-term traders can continue to use a range trading strategy. The day’s pullback outlook from Yang Jie has been perfectly validated.
According to the current market analysis, Bitcoin has completed a wave of technical rebound at the four-hour level, testing the upper resistance of the upward channel above $92,000 again before facing downward pressure, with the candlestick turning bearish confirming significant selling pressure at this level. In the short term, there is a technical demand for correction in the market. Currently, it is important to pay attention to the support effectiveness around the previous resistance level of $89,000, which has completed a 'top-bottom conversion' from resistance to support, serving as a key watershed to measure market strength and weakness. Therefore, in the early morning, Yang Jie still suggests a mainly bullish outlook.
Bitcoin: Long positions near $90,000 with a target focus on $92,000
Ethereum: Long positions in the range of $2,970-$3,000 with a target focus on $3,100
