BTC | 11.23 Market Briefing

📉 BTC daily update: Oversold rebounded, short orders continue to be held (2025/11/23)

1. 📢 Market overview and latest status

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  Current status: After continuous plummeting, the price is currently around $86,394.1, and there has been a certain decline. signs of rebound . Yesterday's K-line entity was relatively small and had a lower shadow, indicating that buying orders began to intervene.
  
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  Technical indicators: The market is at oversold area . This type of technical oversold is a common trigger for rallies.
  
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  Reversal judgment: As you can judge, The current oversold rally is not a definite trend reversal . Prices are still running below all moving averages and key trend lines, and the general trend is still dominated by bears.
  

2. 📝Trading strategy: firmly hold short orders

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  Short position: Continue to hold the short position we established a few days ago (for example, the short position of $93,553).
  
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  reason:
  
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  The general trend remains unchanged: As long as the price fails to effectively break above key resistance levels (such as $92,060 or the moving average area on the chart), any rebound may be considered Correction or relay on the way down。
  
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  Target not reached: The target support area at the daily level (near $71,996.2) has not yet been reached, giving us reason to continue tracking profits.
  

⏳ 4-hour tactical analysis: BTC is backtesting the key resistance level, is the time for new short orders approaching?

1. 🔍 Market focus: Backtest support and resistance swap area

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  Backtest position: Price is currently backtesting after rebounding from oversold territory $Around 88,700 key position.
  
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  Flip Zone: This $88,700 area served as support on the way down, and once it was effectively broken, it transformed into Extremely strong rebound resistance level。
  
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  Moving average suppression: The 4-hour moving average (especially the short-term moving average) is still not far above $88,700, forming a resonance suppression with this resistance level.
  

2. 📝 K-line pattern and trading tendency

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  K line signal: This means that although the price rebounds upward, the entity of the rebound K line is not large, and the upper shadow line may be longer, or small negative lines may appear continuously, indicating that bulls lack sustained buying momentum. Short suppression remains strong。
  
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  Trading tendencies: When the general trend is dominated by bears and the rebound momentum is insufficient, the key resistance level for backtesting is The best time to place new short orders or add positions。