Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Time of writing: 23:56, November 18th, Beijing time
Market Information
- Network security experts support Senator Warren's encryption bill at the Senate hearing;
- US Senator Elizabeth Warren: Cryptocurrencies play a significant role in scams targeting elderly investors, calling for the passage of anti-money laundering legislation;
- Fidelity hopes to create an Ethereum ETF and double its investment in cryptocurrencies with BlackRock;
- CEHV, a venture capital firm partner: The window for the launch of a Bitcoin spot ETF is expected to decrease, leading to increased selling pressure today;
- Federal Reserve Governor Powell: We may be close to or have reached the peak of interest rates;
Market Review
Due to some personal matters, I did not update the market in time these past two days, I hope everyone understands!
On Thursday night, we expected a rebound in the market. The rebound was as expected. In the article, it was mentioned that a short position could be opened if Bitcoin closed at 36900. However, Bitcoin did not close with a shadow at 36900. The highest rally point reached 37980, directly breaking the high point of 37557. The rise in Ethereum was also as expected, with the highest rally point at 2092. There was a shadow line on the 4-hour chart, and the short position was successfully established. The lowest point of the decline was at 1905, breaking the short-term low of 1919. The bearish trend of Ethereum was slightly stronger. Profit was made from the short position in Ethereum. As Bitcoin broke the high point of 37557, no position was established in the article. Currently, after the market declined, it is oscillating at the bottom, and there will be a rebound opportunity in the short term;
Market Analysis
BTC:
Looking at the 4-hour chart, the strength of Bitcoin's rebound was slightly stronger. It broke the previous high point of 37557, but did not break the high point of 38092. After reaching 37980, it started to decline. This short-term decline did not break the position of 34572, but instead reached the support range of 35870-35300 before rebounding. Ethereum fell below the short-term low point last night, and Bitcoin did not decline much. After oscillating in the day session, it rebounded in the evening. There is still some room for Bitcoin to rise. The short-term rebound is expected to reach the range of 37000-37450. After reaching this range, we will look at the situation of breaking the previous high point of 37980. If it breaks, the market will move towards 39300. The small-scale breakthrough of the previous rebound, combined with Ethereum falling below the position, while Bitcoin did not, indicates that Bitcoin's bullish trend is still stronger. In the short term, pay attention to the situation of Bitcoin closing with a shadow near 37450 on the 4-hour chart. If it closes with a shadow, it can be shorted. If not, there is a high chance of breaking through to around 39300. Trade in the short term, control the risk, and manage profits and losses by yourself;
ETH:
Looking at the 4-hour chart, after Ethereum's shadow near 2075, the short position was captured. However, the downward momentum was slightly stronger. I expected the decline to be in the range of 1980-1955, but it directly fell below the low point of 1919 to reach 1905. Based on the 4-hour trend, Ethereum's rebound strength is not strong, and the bearish trend is dominant. In the day session, Bitcoin rebounded, but Ethereum did not even reach 1955. The rebound strength of Ethereum should not be very strong, and it is expected to be around 1975-2000. At the same time as Ethereum rebounds, pay attention to the closing situation of Bitcoin near 37450. If Bitcoin provides a short opportunity, Ethereum can enter the market synchronously, with the expected position around 2000. In the subsequent decline, Ethereum should fall below 1905 again, towards 1840. In trading Ethereum, pay attention to the shorting opportunity in Bitcoin and enter the market synchronously. Trade in the short term, control the risk, and manage profits and losses by yourself;
In summary:
In the short term, Bitcoin's bullish trend is strong, while Ethereum's bearish trend is strong. However, Ethereum will follow Bitcoin in a small rebound. After the rebound, establish short positions based on the trend;
The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!
Follow the public account "Coin War God" to discuss the market together;
"I'm trapped, I'm going to be liquidated, I'm losing so much…" Every time a one-way movement occurs, you always hear such voices.
As the saying goes: A crying child has milk to drink. The key is, I'm not a "wet nurse", and I don't have a remote control that can make the market, which is not to your liking, make a 180-degree turn.
There are "freeloaders" everywhere, hoping for someone to lead the way in doing business, and hoping to break even in trading. There is no such thing as position management in the concept of a "leek" because what they think is: I'm playing all-in. Basically, trading relies on instinctive reactions. I don't know if the money comes from a strong wind, but if this continues, it will definitely be blown away by a strong wind.
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