On Monday, November 17th, weak downward movement continues, Rebound continues to short.
The recent market trend of Bitcoin has been gradually declining, with support consistently being broken. Currently, it has reached a low of 92900 and is showing a rebound correction. In the short term, it is running around 94300. The overall trend is in a very weak state, and participants can simply follow the trend and short!
For the daily trend, the weak downward pattern is evident, with a main focus on oscillating declines. After a deep pullback, it is accompanied by a rebound correction action. Currently, it has dropped sharply again. In the short term, there is some rebound action, but in terms of the overall trend direction, it still belongs to the downward trend. Therefore, participation should continue to maintain a bearish outlook.
On Monday morning, it is recommended to short Bitcoin around 95000-95500, with a target of around 92000-88000.
The mindset determines the kind of results, and the kind of results determines the quality. First establish a fixed mindset, then follow the trend. When the trend breaks, promptly "change the trend". There must be both advancement and retreat in order to navigate smoothly.
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