12.1 Bitcoin Market Analysis Reference For the People's Bank of China’s meeting on November 28 to combat virtual currency trading speculation. The meeting emphasized that virtual currencies do not have the same legal status as legal tender, do not possess legal repayment ability, and should not and cannot be circulated as currency in the market. Activities related to virtual currencies are considered illegal financial activities. Stablecoins are a form of virtual currency that currently cannot effectively meet customer identity verification, anti-money laundering, and other requirements, posing risks of being used for money laundering, fundraising fraud, and illegal cross-border fund transfers. Many frens cannot understand what impact this has on the crypto space. From the Central Bank's perspective, anti-money laundering remains a priority, and the use of cryptocurrency for money laundering will continue to be a focus of enforcement, as anti-money laundering has been a top priority for the Central Bank this year. From an internet perspective, the marketing promotion of crypto-related businesses on networks and social media may continuously undergo cleaning and crackdowns. From a public security perspective, illegal fundraising, fraud, and pyramid schemes are also current enforcement priorities. Additionally, fraudulent activities involving cryptocurrency will be a long-term focus of enforcement. However, normal buying and selling activities are not significantly affected, and there is no need for excessive concern. Bitcoin remains within a range consolidation overall during the day, with a rebound seen after retracing to the 90,000 level. In the short-term hourly chart, the price fluctuation range is continuously compressing, and the current trend shows a deadlock between bullish and bearish forces. On one hand, although the daily chart has shown three consecutive days of lower shadows, effective buying support exists near 90,000, indicating an initial emerging bottom structure; on the other hand, significant upward pressure also exists, with a long upper shadow formed at the 91,626.75 high on the 2-hour chart, indicating clear selling pressure near 92,000. More importantly, the 1-hour chart has preliminarily formed a double top pattern at the 92,000 level, increasing the risk of a price pullback. Technical indicators also confirm the weakening of bullish momentum: the 2-hour MACD's DIF remains above the DEA, but the histogram has significantly reduced to 9.05, while the EMA7 shows signs of crossing below the EMA30, forming a death cross, indicating that short-term upward momentum is weakening. Short-term focus should be on the range breakout situation, with particular attention to the support at the 90,000 level; a breakout could lead to a further weakening of the market. In terms of operations, it is recommended to primarily take short positions on rebounds. 12.1 Bitcoin short-term trading strategy reference: Short at testing points 91,800-92,800, with a stop-loss at 95,500; target below 91,300. Long at testing points 88,500-87,500, with a stop-loss of 500, and target above 89,500. 12.1 Ethereum short-term strategy reference: Short lightly at testing points 3,060-3,105, with a stop-loss of 30 points; target below 3,000. Long at testing points 2,881-2,831, with a stop-loss of 30 points; target above 2,920. The article is sent with a delay, and the strategy suggestions are for reference only. Market conditions change rapidly; regardless of how accurate the market judgment may be, stop profit and stop loss must be managed well. Locking in profits is essential. #成长值抽奖赢iPhone17和周边 $GT $BTC $ETH $BTC ‌