11.26


Midday Thoughts
The Bitcoin is currently in a range-bound fluctuation pattern, and both the technical indicators and external environment have not shown any obvious trend-driving factors.

The technical indicators show that the price is between support and resistance. Although the short-term and long-term moving averages are in a bullish arrangement, the extremely reduced trading volume has created a divergence between price and volume, weakening the health of the upward movement.

In addition, the Bollinger Bands are narrowing and the price is near the middle band, further confirming that the market is in a consolidation phase. Bitcoin: around 88000-88500, looking down at 86500-85500; Ethereum: around 2940-2990, looking down at 2840-2790.
BTC1.28%
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