Analysis of the Bitcoin strategy on November 13

Yesterday during the day, the Bitcoin price showed a fluctuating upward trend, but in the evening, with the opening of the US stock market, there was a sharp decline, quickly dropping from around 105200 and reaching a low of 100711.

The current market is showing a significant downward trend: the daily candlestick has continuously closed in the red, gradually approaching the lower band of the Bollinger Bands, while the Bollinger Bands are overall expanding downwards, confirming that the downward channel has been fully opened; the candlesticks have continuously formed bearish bars with long upper shadows, indicating that selling pressure from above continues to exist, making it difficult for bullish forces to organize an effective counterattack in the short term.
In the four-hour chart, the price has fallen below the lower support level. Although there have been occasional bullish attempts to resist, the rebound strength is weak and lacks volume support, failing to change the current bearish pattern, and the overall downward structure remains intact. It is recommended to continue to adopt a strategy of shorting on rallies!

It is recommended to short when the price rebounds to around 104200-104800, targeting a decline to 103000-102200, and if it breaks down, continue to look for 101000.
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