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From the exchange price of BTCBCD and BTC, within 1 hour, there were bearish candlestick patterns such as Belt Hold Bearish, Engulfing Bearish, Evening Doji Star, etc. However, there were also bullish patterns such as Bullish Doji Star, Harami Bullish, Bullish Engulfing on the 30-minute and 1-hour timeframes. This indicates that there is a certain complexity and uncertainty in the short-term price action of BTC, and the strength between long and short positions is relatively balanced in the short term, but shorts have a slight advantage on the 1-hour timeframe.
Market sentiment and news impact
Market Sentiment: CoinCodex predicted on October 28th that the price of BTC on November 26th would reach $91,626, expecting a pump of 35.21%. However, the actual price did not reach this level, which may impact the sentiment of some investors and dampen their expectations of a BTC price pump.
News:
Macro-economic perspective: The newly appointed US Treasury Secretary is determined to fulfill the tax reduction commitment, promote tariff policies, reduce expenses, and maintain the status of the US dollar as the global reserve currency. This news has created new expectations for future economic policies, to some extent affecting the flow of funds and putting pressure on the price of BTC, causing it to fall below $94,000.
Industry-related aspect: In the future, a company under the US Secretary of Commerce was exposed to hold Tether, promoting the BTC loan project. This news has certain positive implications for BTC, but based on the price on November 26th, its positive impact has not yet been able to completely offset the downward pressure brought by other factors.