BTC Zhenghe Technical Analysis Report for Late November 2025

Recent market background: Bitcoin experienced a significant plunge in November, dropping from its historical peak of $126,000 on October 12 to a phase low of $89,000 on the 18th, a decline of 29%. On the 27th, it saw a strong rebound, returning to the $90,000 mark, and on the 29th, it was in a box consolidation phase, maintaining the $91,000 level, with intense long and short battles.
Interpretation of Core Technical Indicators
RSI Indicator: The daily RSI reading has rebounded from the oversold area, indicating a relief in downward pressure and a significant weakening of selling power, providing technical support for a rebound.
Moving Average System: The 200-hour simple moving average around $90,000 forms significant resistance, which has limited Bitcoin's upward momentum for several days; while the 50-week SMA is above $102,000, this level was broken in early November, marking a shift to a bearish trend in the larger cycle, making it difficult to break through in the short term.
Price Structure and Trading Volume: After gaining support at the key level of 80,000 USD, a higher low has formed, and there has been moderate trading volume accompanying the rebound, indicating an increased willingness for capital inflow. However, overall it is still in a box range oscillation and has not yet formed an effective breakout situation.
Key Points
Resistance level: $91,500 - $92,000 is a previous area of intensive trading, with strong resistance; further resistance is at the key psychological level of $95,000, as well as the multiple trading concentration range of $98,000 - $99,000.
Support levels: 88,000 - 88,300 USD serve as conversion support; 86,000 - 86,200 USD is a strong support zone; the more critical structural support is around 83,680 USD, where the 100-week SMA coincides with the long-term upward trend line. If this level is lost, it may drop to 74,500 USD.
Market Prediction: The short-term technical structure has turned bullish, but it has not yet escaped the larger downtrend. If it can stabilize at 95,000 USD, it is expected to trigger a larger scale oversold rebound; if it falls below the previous low of 89,000 USD, it will further test around 85,000 USD. The subsequent trend heavily relies on the policy signals released by the Federal Reserve during the December interest rate meeting. #成长值抽奖赢iPhone17和周边