BiyaPay Analyst: Bitcoin Rebounds to $88,000, Major Trend Still Bearish with Shorting at High Levels

On November 24th: Following a rebound to approximately $88,000, Bitcoin came under pressure and retreated. The daily line is still positioned below the moving average, and there is a death cross in the technical indicators, suggesting a bearish tendency in the overall trend. The hourly candlestick chart has been continuously declining. There is resistance around $88,200 that overlaps with the daily line, and a further pullback in the short term cannot be ruled out. Analysts at BiyaPay believe that this round is more in the nature of a technical rebound within a downtrend cycle. In terms of trading, it is recommended to mainly focus on carefully establishing short positions at high levels with a relatively small position size. It is crucial to strictly control leverage and set stop-loss orders. BiyaPay now supports trading US stocks, Hong Kong stocks, and futures using USDT. It offers zero-fee trading for spot and contract digital assets. Users can view real-time market data and engage in diversified asset allocation through BiyaPay. However, they should still participate prudently based on their own risk tolerance.