Bitcoin Price Update (December 2nd)

This article was written at 14:05. Looking at the daily chart, yesterday's decline was partly influenced by the Asian session, with factors such as increased domestic regulatory scrutiny and Japan's interest rate cut. The market rebounded to short-term resistance but failed to rally rapidly, and the price began a pullback. The pullback was somewhat rapid, but it didn't break down. Long-term long positions don't need to worry and can continue to hold. Short-term traders can buy in. On the daily chart, Bitcoin encountered its first resistance level around 31400 during the rebound, and after reaching it, the daily candlestick closed bearish with an upper shadow. This kind of movement is basically a signal of a pullback. (Offline personal...) We have indeed positioned ourselves short. You are welcome to verify. The pullback only tested the 4-hour support around 83300 before closing with a lower shadow. There is still room for a short-term rebound, expected to reach the 89500-91000 range. Those who missed the long position can consider entering around 86500. Aggressive traders can enter directly, with a stop-loss at 85000, targeting the 895-910 range. If the daily chart breaks and holds above 91300, we can then follow the trend. If 91300 holds, the next target is around 98000. Enter at your own discretion. Click the avatar above to open my profile and discuss market trends. Short-term trading, control risk, profits and losses are your own responsibility.