Market laws, twists and turns, cycles come and go, internal cultivation of the mind, external cultivation of actions, the road ahead is long and arduous. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life lead to different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. Through hardships and beautiful scenery, do not forget the original intention, and one will eventually succeed.
2023.11.20 BTC——————
Over the weekend, our long position at the 36200 level was perfectly held at the lowest position. On Sunday, the overall team tried to position for a rebound, but did not find a suitable entry point. Overall, the weekend harvest was still good. A new week begins, and the weekly chart formed a strong closing pin bar at the last moment, indicating a certain degree of retracement on the weekly level. On the daily chart, Bitcoin is still in the Bollinger Bands' upward channel, with support at 36200 and resistance at 38200. The MACD bearish volume is shrinking, and the KDJ three-line golden cross continues to diverge upwards. The daily chart suggests continuing to position long during the pullback. On the short-term four-hour chart, the Bollinger Bands are widening, indicating a continued upward trend. However, without strong upward momentum, the probability of a pullback is still very high. On the one-hour chart, the Bollinger Bands' three lines are widening, the MACD bullish volume is accelerating, and the KDJ is showing signs of a turnaround at the high value of 80. If the J value is supported at 80 and the KD two value continues to rise, then the price will definitely have another breakout. Therefore, the overall suggestion for the day is to focus on long positions during the pullback.
Pending order:
Long at 36900-37000, with a 500-point defense
2023.11.20 ETH———————
Although the long position for Ethereum over the weekend reached the expected level and created space, the price was at a lower point, and actual trading friends did not find suitable entry points without placing orders. This is the truth. Returning to today's market, after the strong weekly closing, the overall trend tends to consolidate at high levels. On the daily chart, the price is in an upward channel, with support at the 1950 level and no resistance above, only the upward momentum will break through the previous high. Therefore, you can consider the resistance at the 2150 level. There are signs of upward turning in the KDJ three lines, and the MACD bearish volume is shrinking. On the short-term four-hour chart, the Bollinger Bands' three lines are widening and running upwards, with support at 1960, and the KDJ is running at a high level. The overall situation for Ethereum is not as optimistic as Bitcoin. The bearish strength on the four-hour chart is still relatively strong, and from a technical perspective, the price needs further adjustment before new upward momentum can occur. In summary, the suggestion for Ethereum is to position long during the pullback.
Pending order:
Long at 1960-1980, with a 40-point defense
This article is exclusively created by senior analyst Qin Chuan. For more market information, follow the public account: Zhao Qin Chuan
Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, so entry into the market should be cautious.
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