Morning of November 21

Operation Suggestions
Bitcoin: around 88000-88500, target near 86500
Two pancakes: around 2900-2950, target 2780 for entry

As the US stock market opened lower in the evening, Bitcoin also experienced a downward spike, dropping from its peak to a low of 86000 before finally stopping. This offered a fluctuation space of nearly 5000 points. The altcoin followed Bitcoin's trend but did not show the same strength as before, also falling from its peak to around 2788, resulting in a drop of over 300 points. The analysis provided by Teacher Li yesterday regarding the Kongsir Road arrived as expected.
From a technical structure perspective, it is still operating within a downward channel, and the intraday rebound correction has not changed the overall pattern of the market. The recent strong downward movement at night has further breached the psychological defense line of many investors, with a consecutive arrangement of bearish candles vividly demonstrating the downward momentum. On the four-hour level, it continues to hover near the lower Bollinger band, with the strength of the rebound being weak, and after closing at a low, it has entered a phase of reduced volume consolidation. In the context of the absolute advantage held by short positions, today's brief correction during the Asian trading session seems more like a buildup for further declines, with the key resistance zone above difficult to effectively break through. It is recommended that if a rebound occurs in the morning, one should still position themselves according to the downward trend.