Master Discusses Hot Topics:

Since Bitcoin has slightly corrected and then surged to 97K, fans have been asking Master: "How will the monthly closing look? Will there be another correction at the beginning of the month?" This question is almost asked every month at the beginning, just like asking "Is it spicy?" after having hot pot.

In fact, the answer is quite similar. Based on historical experience, there is usually a slight correction from the beginning of the month to the 5th, as if the market is taking a deep breath, catching its breath, and preparing for another battle.

So will there be a correction at the beginning of December? Logically, a small correction of 3-5K is quite reasonable, but a large correction of 8K to 10K? We will have to wait and see; the market is like buying vegetables, who knows when the prices will rise or fall? Before this, Master has clearly stated that he does not predict the future, only believes in science.

However, we must remember one thing: as long as we stand firm, we can lay out our plans. For example, Master mentioned a few days ago that 90K has not been broken, and the recovery from the drop has already been significant, so how can we expect a large correction again?

The current momentum is not yet at its peak; speculating on 80K or 70K is completely just scribbling. We can continue to conservatively look bearish, but avoid chasing highs; maintaining rationality is the right path.

As for short-term operations at the end of the month and the beginning of the month, everyone should not rush to turn floating profits into floating losses. It’s best to close positions near the average price, simply locking in profits and avoiding trouble.

The strong support zone below is 94600-93800 (short positions can take profit here). If it pulls back to this level, it might be a good idea to directly enter a low long position, targeting 95850-96300-97850. Once achieved, just run; don’t leave regrets for yourself.

Oh, by the way, the Federal Reserve's Beige Book will be released on December 4th. Historically, from December 4th to 6th, the market may experience a "needle" dip, which is also a good opportunity to go long; we will operate based on the levels at that time.

Currently, Bitcoin and Ethereum are in a sideways consolidation, similar to a lazy old dog. Entering long positions on pullbacks is the best choice, avoiding chasing highs. As long as it does not break the current support, there is no need to blindly look bearish on the next support level.

Key Point: If Bitcoin breaks below 94500-93800, then consider tightening operations; otherwise, the 94600-96300 range can still be traded. The 94666 level has been touched twice; if it rebounds and breaks 96300 today, the next pullback to 94666 can still be boldly entered for a low long.

Within 12 hours, the short position liquidation at 96650 for Bitcoin has reached its peak, which is the current resistance. At the end of the month and on weekends, market trading volume is low, and the rebound strength will not be too strong. During short-term operations, do not rush to chase highs; leave some tail positions and move the stop-loss.

In the short term, Bitcoin has a dense short position in the 99100-99700 range, which will eventually be liquidated. If 97700 breaks, the bears will start to get nervous. The strong support in the 91600-92000 range has significant rebound strength and is not easy to break.

Master Looks at Trends:

Currently, Bitcoin is fluctuating in the short term within the 94.9K ~ 96K box range, with the lows rising while the K-line remains above the 20-day moving average, so the view of continuing the rebound can be maintained.

Even if the pullback fails, as long as the lows are elevated, it can still be seen as an entry opportunity.

Resistance Levels Reference:

First Resistance Level: 97500

Second Resistance Level: 97000

Support Levels Reference:

First Support Level: 94900

Second Support Level: 93350

Today's Suggestions:

Today, we can pay attention to the fluctuations within the box range, looking forward to a stabilization at 96K. Due to the current low trading volume, there may be continuous adjustments. For ultra-short-term trading, if the 94.9K support is maintained during the adjustment, it can be seen as an entry opportunity.

11.29 Master’s Band Strategy:

Long Entry Reference: Enter long at 94700 with light positions; if it pulls back to the 93600-93350 range, enter long directly. Target: 97000-97500

Short Entry Reference: Not applicable

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