Cryptocurrency News
November 23rd Hot Topics:
US SEC Commissioner: It is necessary to establish a regulatory framework that encourages innovation and allows crypto companies to operate in the United States.
US prosecutors request a federal judge to prevent Zhao Changpeng from returning to the UAE before the verdict.
Ripple's Chief Legal Officer: Binance's settlement with the Department of Justice is an important step for the industry to move towards compliance.
Coinbase accuses the SEC of continuously "delaying" response to the petition for crypto regulations.
US court rejects SBF's latest release request.
Trading Insights
Market trends can be divided into unilateral and oscillating. In the futures trading market, it is important to judge whether it is a unilateral market trend, as futures trading is two-way. If a unilateral market trend appears and trading against the trend does not yield good results in the futures market, while most people do not want to get involved in oscillating market trends, primarily due to low profitability and exhaustion. However, oscillating market trends exist for a longer time in any market than unilateral trends. When entering an oscillating market, trading volume is low, which is difficult to understand because oscillating market trends are easier to trade, and investors in unilateral market trends often experience emotions of missing out or fear of shorting. By managing positions with strict stop-loss in oscillating market trends, unexpected gains can be achieved.
Next is the grasp of rhythm. When following the market, it is important to pay attention to the rhythm, which includes market rhythm and investment rhythm. Regardless of the investment method adopted by investors, they ultimately need to find an investment rhythm that aligns with the market rhythm. Since the market rhythm is constantly changing, investors' rhythm sometimes needs to change as well. If there is a difference between investors' rhythm and the market, and it cannot be corrected, they are likely to be eliminated by the market and become casualties.
Search for the public account: Big White Coin
BTC
Analysis
Bitcoin yesterday morning hit a low of 35627 and then rebounded after support, followed by a V-shaped reversal, reaching a high of 37800 before falling back. Currently, the price is running near 37370. The four-hour candlestick chart has broken through multiple resistances with seven consecutive positive candles. The MACD has turned from bearish to bullish, and the signal line has formed a golden cross above the zero line. The market has returned to running above 37000. The current candlestick has a long upper shadow, indicating strong resistance at this level. There is a short-term demand for retracement. The market is still oscillating widely between 35600 and 38000. Blindly pursuing long positions at the current high level is not advisable. The daily chart fell to the MA30 and quickly rebounded to form a lower shadow. The bullish trend has not been broken. If the market can stabilize above 37500, there is a high probability of a breakthrough to the upside. In the short term, the focus is on the strength of the retracement. It is recommended to hold short positions at the breakthrough and to have resistance at 37800-38400 and support at 37000-36400.
ETH
Analysis
Ethereum's trend yesterday was consistent with the overall market. It fell to the 1928 level but failed to continue the bearish trend. The market then showed an upward trend, reaching a high of 2090 before falling back. Currently, the price is running near 2060. The four-hour chart formed a V-shaped reversal, with five consecutive positive candles turning negative, but the retracement was not significant. The MA7 has turned upwards, guiding the market. The MACD is running bullish, but the volume is insufficient, and the signal line has formed a golden cross. In the short term, there is a demand to test the support of the MA7 moving average. The daily chart has turned from bearish to bullish, forming a lower shadow above the MA14. The trend is biased towards the bullish side. If the market can stabilize above 2100, there is still a high probability of breaking the previous high. Currently, it is still in a range-bound oscillation. It is recommended to go long after a retracement and to have resistance at 2080-2120 and support at 2040-2000.
Disclaimer: The above content is for personal reference only and does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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