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

BlockBeats News, November 24th: After a rebound to around $88,000, Bitcoin came under pressure and fell back. The daily line is still running below the moving average, with a death cross in the technical indicators, indicating a bearish bias in the overall trend. The hourly candlestick chart has been declining consecutively, with resistance around $88,200 overlapping with the daily line, and a further pullback in the short term is not ruled out.

BiyaPay analysts believe that this round is more like a technical rebound in a downturn cycle. In terms of trading, it is recommended to mainly focus on establishing short positions cautiously at high levels and with a light position size. It is essential to strictly control leverage and stop-loss orders. BiyaPay now supports trading US stocks, Hong Kong stocks, and futures using USDT, and 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, but should still participate prudently based on their own risk tolerance.