11.29 Afternoon Bitcoin & Ethereum trading strategy: Support and resistance logic in a volatile pattern

Good afternoon everyone on Saturday! Reviewing the market from this morning, Bitcoin failed to achieve an effective breakout after surging to the short-term high point around 93000 due to insufficient bullish momentum, quickly retracing to around 90100 to stabilize. Currently, the resistance strength above 93000 is significant, while the 90,000 level has proven to be effective support after multiple retracement tests. The price continues to oscillate within this narrow range; Ethereum is highly correlated with Bitcoin, and their market trends are closely synchronized, which I won't elaborate on here.
From a technical perspective, Bitcoin shows a three consecutive bearish trend on the 4-hour chart, with the price operating above the middle band of the Bollinger Bands. The Bollinger Bands are in a converging state, and the middle band can serve as a key short-term support level. On the 1-hour chart, the Bollinger Bands are widening, and the price is situated between the middle band and the lower band. The KDJ indicator has entered the oversold area, and the MACD fast and slow lines have crossed below the zero axis. The green energy bars continue to increase, and the moving averages are arranged downwards, suggesting a higher probability of continuing weakness in the short term.
The core focus of the midday operation is the effectiveness of the support at the 90,000 level: if this support level is broken, the bullish strategy from the morning needs to be adjusted promptly; if the price of the coin continues to operate above the 90,000 level, then the main strategy will continue to be to set up long positions on retracements.
The big cake is fluctuating around 90100-89600. The target ⬆️ is looking at 91300-92200.
The target for the second pancake is around 2970-3000, looking up to 3060-31000 #十二月降息预测 #反弹币种推荐 $BTC .