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: 23:12, November 21, Beijing time
Market Information
- The probability of the Fed maintaining interest rates in December is 100%;
- The release of the minutes of the Fed meeting may not be a big deal for Bitcoin;
- Canadian regulatory agencies seek feedback on disclosure rules for bank cryptocurrency risks;
- Breaking news: The US Department of Justice seeks over $4 billion in fines from Binance to settle related criminal charges;
- Tokens mentioned multiple times by the US SEC have risen an average of 41% year-to-date;
Market Review
Last night, we expected Bitcoin and Ethereum to start falling. After a small drop in the evening, there was a rebound in the second half of the night, but this rebound did not break through the short-term high point. Bitcoin's high point of 37,980 was not broken, and Ethereum's position of 2,092 was not broken. The highest point for Bitcoin was 37,765, and for Ethereum it was 2,067. Although there was an upward movement, the short-term high point was not broken. After the intraday fluctuations, a decline started in the evening. There is still some room for this decline. After reaching the support range below, pay attention to the strength of the support and the situation of breaking through the decline.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin's small-scale fluctuations last night were a bit fast. It first quickly fell, then rebounded, then fell again, and then rebounded. The 4-hour chart showed two long lower shadows. However, the intraday rebound did not break the previous high point of 37,980. The rebound also oscillated near 37,450 in the evening. The pressure on the 4-hour chart is still effective. Currently, short positions should have a profit of 500-600 points. Friends who enter the market can bring a breakeven stop or a trailing stop to look at the target. The target range is between 36,350 and 36,000. After reaching near 36,000, observe the situation of the lower shadow to open long positions. If there is no lower shadow, pay attention to breaking the low point of 35,488. In the event of a breakthrough, the market needs to rely on reaching near 34,550. Based on the closing situation after the decline, make your own decisions on entering the market. Control risk in short-term trading, and manage profits and losses on your own.
ETH:
Looking at the 4-hour chart, Ethereum also retested the 2,055 resistance last night, reaching a high of 2,067 and then forming a relatively long doji. Ethereum started to pull back during the day, and it also did not break the previous high point of 2,092 last night. Currently, Ethereum should have a profit of about 40-50 points. In the evening, you can continue to look for a decline with a trailing stop. There is still room for a short-term decline. It is expected to reach the range of 1,965-1,940. After reaching this range, take profit, and then consider opening long positions near 1,940 based on the situation of the lower shadow. If there is no lower shadow, pay attention to breaking the short-term low point of 1,905. After the breakthrough, it is expected to reach near 1,835. Based on the closing situation after the decline, make your own decisions on entering the market. Control risk in short-term trading, and manage profits and losses on your own.
In summary:
The decline in the evening has not yet reached its bottom. Wait for the decline and then open long positions based on the lower shadow.
The article is time-sensitive, be aware of the risks, the above is only personal advice, for reference only!
Follow the public account "Coin Circle War God" to discuss the market together;
"Stuck, about to be liquidated, 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 am not a "wet nurse," and I don't have a remote control to make the market, which is not to your liking, make a 180-degree turn.
There are "begging" everywhere, hoping for someone to lead a business, and hoping to break even in a trade. There is no such thing as position management, because in the concept of being a "leek," position management is not needed. The thought 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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