On November 28, 2025, at midday, Bitcoin $BTC firmly held the $91,000 level, showing signs of high-level consolidation, supported by favourable information such as the Fed's interest rate cut expectations, continuing the rebound. However, the medium to long-term structure still has a certain bearish inertia. The specific trend analysis is as follows:

1. Price Performance: Bitcoin is currently reported at around 91050 USD, having strongly rebounded from a low of 89602 USD yesterday over the past 24 hours, reaching a high of 91836 USD. Overall, it is in a high-level consolidation phase after a recent rebound, and still maintains strong buying support against the backdrop of partial market closures in the US stock market due to Thanksgiving.

2. Technical Situation: On the daily chart, the RSI indicator has rebounded from the oversold area, and downward pressure is easing; the MACD indicator has shown a bullish crossover and is beginning to expand upwards, releasing positive signals. However, the 50-day, 100-day, and 200-day moving averages are still sharply declining, indicating a long-term bearish structural inertia. The Bollinger Bands on the hourly chart are narrowing, with prices oscillating around the middle band, indicating a short-term tug-of-war between bulls and bears, and the corresponding range of 93500 - 94200 USD in the daily Bollinger Bands forms a strong mid-term resistance zone.

3. Key Levels: In terms of resistance, the primary focus is on the $93,500 - $94,200 range, with further resistance at $95,000 and the psychological level of $100,000; in terms of support, $90,000 is the immediate key support, with further support around $84,000.

4. Market and macro drivers: The probability of the Fed cutting interest rates by 25 basis points in December has soared to 85.3%, which is the core favourable information driving its rebound. At the same time, the US spot Bitcoin ETF is showing a net inflow trend, institutional selling pressure is easing, and funding rates have turned positive. These positive signals provide support for Bitcoin prices. #比特币行情观察