Market analysis on November 24th: Bitcoin's 1-hour pullback expectation is complete, and we continue to look bullish, with a possibility of breaking through 100,000.

CN
3 days ago

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In yesterday's market analysis, we indicated that a short-term 1-hour level pullback was needed, and it has successfully occurred. We can pay attention to the strength of the pullback here, with certain support around 97000 or 96000 below. We need to observe the specifics. The current structure has been satisfied; it remains to be seen if it can stabilize tonight.

We expect a new 1-hour level rebound to begin tomorrow, with the next 1-hour rebound likely to break through the 100,000 mark. After breaking through, we will focus on the range between 100,000 and 110,000. Ethereum is also nearing a 1-hour pullback, and after the pullback, we continue to look bullish towards around 3700.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes; this is merely for reference.

1H:

At the 1-hour level, the current pullback structure should be nearly complete. If it holds around 97000, we should see a 1-hour level increase tomorrow, with attention on the range of 102500 to 105000 above.

If it does not hold around 97000, we will look at the 96000 area. Currently, we do not see a significant decline; after the pullback, we will continue to look bullish.

15M:

At the 15-minute level, we are currently in the 5th leg of a 15-minute level decline. This decline can be shallow or deep; for a shallow decline, we focus on support around 97000, and for a deeper decline, we look at 96000. It is worth noting that the overall upward trend is not yet complete. After this pullback, we will continue to reach new highs. Therefore, we expect continued upward movement on Monday and Tuesday, leading to a new 1-hour level increase.

ETH

Ethereum is also undergoing a 1-hour level pullback. Last night, it made another attempt to reach 3500 but was unable to break through. As long as this 1-hour level pullback does not drop below 3220, the overall 4-hour level upward trend is not over, so we will continue to look bullish after this pullback. The next 1-hour level rebound is expected to challenge around 3700.

Currently, in the 1-hour pullback, three 15-minute level structures have already formed internally. We first focus on whether 3320 can hold; if it holds, we will directly look for a 1-hour level rebound. If it does not hold, we will further test the range of 3260 to 3190, and after testing, we will still look bullish.

Trend Direction

Weekly Level: Direction is upward, currently undergoing a new weekly level increase, with an overall target above 150,000.

Daily Level: Direction is upward, with the daily level increase expected to reach around 120,000.

4-Hour Level: Direction is upward, focusing on the range of 100,000 to 110,000 above.

1-Hour Level: Direction is upward; the 1-hour level pullback should be nearing its end, and we will look for a 1-hour level increase towards 100,000.

15-Minute Level: Direction is downward; currently, we first look at support around 97000, and if it does not hold, we will look at 96000.

Feel free to follow my public account for discussion and exchange:

The article is time-sensitive; please be aware of the risks. The views expressed are personal suggestions and for reference only!

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