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11.25 Morning Bitcoin Analysis: 💝
The current price of 88322 is above the middle band of the Bollinger Bands. The hourly rebound is a recovery from the previous low of 80600, but the rebound strength is not strong—recent attempts to reach around 89000 have quickly pulled back, indicating that 89000-89300 is a strong short-term resistance area. Moreover, the overall trend on the daily chart is still bearish, so this rebound looks more like “an opportunity to enter short positions.”
Trading suggestion: Go short on Bitcoin around 88500-89000, with a target of 87000-86100.