November 21 Bitcoin trend depth explanation and intraday analysis:

BTC: At 5 AM yesterday, Nvidia's earnings report was released positively, adding a bit of confidence for the market's rebound. The market then rebounded, reaching around 93K at its peak. In last night's video explanation, it was clearly stated that the 93 level is a pressure point for a short opportunity. During the evening US market hours, continuous volume selling began, and the recently focused support at the 87 line has already been broken. The daily candle from yesterday closed with a large bearish candle, breaking below the Fibonacci 50% retracement line (87K corresponding to the weekly MA90). After a few days of recovery, the market has once again entered a rapid decline phase, and there are currently no signs of a bottoming out, so bottom hunting should be approached with caution. The moving average system for the short and medium term (MA7/14/30/90) continues to press down, and at this stage, the bullish force has completely lost initiative, with bears fully dominating the market. The rebound over the past two days is also a repair of the gap between the candles and moving averages caused by the rapid decline last week, which we commonly refer to as a corrective rebound. Trading volume has once again increased during the decline, showing a typical panic selling structure. The MACD indicator's fast line is widening again, with the negative value of the histogram increasing, and the downward momentum is amplifying, with no signs of a bottoming out or buy signals appearing. The subsequent market is likely to continue to probe lower, accelerating towards the 78-80 range, where defense is crucial as it represents the strongest Fibonacci resistance line (61.8% retracement line) and is also near the yearly low. If it can stop the decline and the candles form a large volume pin bar pattern, there is a chance for a rebound to challenge the 94-96 range again; otherwise, if it breaks below 78K on high volume, Bitcoin may face a halving scenario, heading towards around 63K. In terms of intraday operations, pay close attention to the pressure at the 87-88 level for short opportunities, and the support at the 84-83 level below.
‍#BTC