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: 22:22, November 20th, Beijing time
Market Information
- As the milestone date approaches, the cryptocurrency community begins the countdown to Bitcoin halving;
- Bloomberg: The market size of Bitcoin spot ETF may reach billions of dollars, and related institutions have discussed allocating Bitcoin;
- Bloomberg: Bitcoin spot ETF may develop into a market worth $100 billion;
- US presidential candidate: If elected president, will ensure that Bitcoin is not subject to government intervention;
- Approval for Bitcoin ETF is imminent, but be prepared to face more setbacks: BitGo CEO;
Market Review
Over the weekend, we mentioned that there is still some room above the big cake, and the rebound range is expected to be between 37,000-37,450. The high point of the big cake's rebound in this wave is at 37,511. After reaching this range, there was no further rebound. During the day, the big cake continued to fluctuate near the 37,450 pressure. After being under pressure in the short term, the big cake is highly likely to start a pullback. Ethereum's trend was relatively weak, only reaching around 2,000 when the big cake was near 37,450. However, Ethereum rebounded during the day, while the big cake continued to fluctuate. The highest point of Ethereum reached 2,043 in this rebound, ultimately reaching the short-term pressure range of 2,020-2,055. The big cake waited for Ethereum while fluctuating during the day, and then Ethereum showed a downward signal on the 4-hour chart, indicating that a short-term decline is imminent;
Market Analysis
BTC:
Looking at the 4-hour chart, the big cake's short-term rise was relatively fast, reaching the pressure near 37,450 ahead of time. After reaching this level, it did not break through, and during the day, it continued to fluctuate under pressure, indicating that the short-term pressure near 37,450 is effective. With effective pressure, a short-term decline is expected to occur, with the expected decline range between 36,260-35,950. After reaching this range, the next target is to look at the breakthrough of 35,488. If the market does not break through this level, the trend will continue to fluctuate. For short-term trading, you can focus on shorting near the 37,450 pressure, with the target range being 36,260-35,950. Manage your own entry opportunities and control risks for short-term trading; profits and losses are your own responsibility;
ETH:
Looking at the 4-hour chart, Ethereum's trend is relatively weaker. The previous decline broke through the previous level of 1,919 and reached 1,905. Later, the big cake's rise led Ethereum to follow, and Ethereum reached around 2,000 only after the big cake reached its target range. During the day, while the big cake continued to fluctuate at a high level, Ethereum showed a short-term rebound, reaching the rebound range of 2,020-2,055 after this decline. A shooting star appeared near the pressure on the 4-hour chart, indicating a short-term signal for shorting. The chance of a decline in Ethereum is greater in the evening, with the expected decline range between 1,960-1,935. After reaching this range, look at the breakthrough of 1,905. In the evening, you can focus on shorting based on this shooting star on the 4-hour chart. Manage your own entry opportunities and control risks for short-term trading; profits and losses are your own responsibility;
In summary:
The big cake and Ethereum are under short-term pressure, and a pullback is expected in the evening;
The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!
Follow the public account "Coin Circle 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 to make the market, which is not going as you wish, make a 180-degree turn.
There are "followers" everywhere, hoping someone will lead the way in business, and hoping to break even in trading. There's no such thing as position management, because in the concept of being a "leek", position management is unnecessary. What's in mind is: I'm going all in. Basically, trading relies on instinctive reactions. I don't know if the money comes from a strong wind, but if things continue like this, it will definitely be blown away by a strong wind.
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