11.12 Thursday Market Overview: BTC is moving sideways within a descending wedge channel

BTC closed the morning with a small bullish candle featuring upper and lower wicks, as bulls and bears battled back and forth

BTC is inside a descending wedge channel. Several touches of the upper descending trendline have failed to produce a valid breakout, and the rebound lacks strength

7.37 acts as a horizontal line within the channel, serving as a key pivot with frequent support-resistance flips. It is again hovering near 7.37 in the early Asian session

7.33 provides minor support within the channel. Several pullbacks with wick dips have failed to break below it; each pullback has rebounded, confirming the channel's support

As time goes on, 7.37 and the descending trendline may converge. A breakout above the trendline and stabilization could bring a rebound, though it may face resistance and pull back near 7.55

Only if positive news brings three large bullish candles that break through resistance directly and push back above 7.65 will it signal a bullish trend reversal; otherwise, expect another pullback at resistance

For now, try to watch more and trade less. The price range is narrow, and staying out of the market is a skill too

Friends passing by, please follow, like, and comment—your support means a lot to me. Many thanks! The above is for market analysis only, not a trading instruction;
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