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, thank you for reading!
Time of writing: 21:56, November 22, Beijing time
Market Information
- CEO of the cryptocurrency bank company BCB Group resigns;
- JPMorgan: Binance's settlement resolves potential systemic risks;
- Apple faces lawsuit for allegedly making anti-encryption deals with competitors;
- Governor of the Bank of Spain: Digital euro is not urgent, but work should continue;
- New CEO of Binance: The company's capital structure has no debt, and revenue and profits remain strong;
Market Review
Last night, due to the recent settlement event of Binance, the market for Bitcoin and Ethereum fluctuated rapidly, but did not break through the position. The 4-hour chart still shows a fluctuating trend. Last night, we mentioned that opening a long position near the short-term support would be possible if there was a lower shadow, but Bitcoin and Ethereum did not show a lower shadow on the 4-hour chart. The closing situation was not very good, so there was no opportunity to establish a position at the bottom for this long position. Although there was no opportunity to establish a position at the bottom, there was an opportunity to chase long positions during the day. Bitcoin has not yet reached the target range for this rebound, while Ethereum has reached the target range. It is still necessary to pay attention to the rebound of Bitcoin in the evening.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin closed with a long bearish candle without a lower shadow in the early session, which made it risky to establish a long position. The opportunity to open a long position near 36,000 mentioned last night was not available. At 12 o'clock in the day, another large bullish candle closed near 35,378. Looking at the overall trend on the 4-hour chart, the short-term low point of Bitcoin at 35,488 was not broken, and after the decline, it rose back above 36,000. The market still belongs to the bulls. Although there was no opportunity to enter a long position at the bottom, it is possible to join the long position midway. The target range for the rebound of Bitcoin is between 36,950 and 37,300. After reaching this range, open a short position based on the situation near 37,300. If it directly breaks through the position near 37,765, the next target will be around 38,640. Manage your entry opportunities on your own; trade short-term, manage risks, and take care of profits and losses.
ETH:
Looking at the 4-hour chart, Ethereum's rebound is stronger than Bitcoin's. The target range for Ethereum's short-term rebound is between 2015 and 2035, and Ethereum has already reached this range. The highest rebound point for Ethereum is at 2043. Because Bitcoin's rebound has not yet reached its peak, there is a high chance for Ethereum to break through the short-term high point of 2067 in the evening, which will break the downtrend line and the market will slowly enter a bullish phase. It will continue to rebound. In the short term, focus on the breakthrough of 2067 for Ethereum. After breaking through, the next resistance level will be near 2130. After reaching near 2130, open a short position based on a long upper shadow. Manage your entry opportunities on your own; trade short-term, manage risks, and take care of profits and losses.
In summary:
There is still room for Bitcoin's rebound in the evening, while Ethereum has moved ahead. Pay attention to the breakthrough of the short-term high point in the evening.
The article is time-sensitive, be cautious, 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 to your liking, make a 180-degree turn.
There are "freeloaders" everywhere, hoping for someone to lead the way in business, and hoping to break even in trading. There is no such thing as position management, because in the concept of being a "leek", position management is not necessary. The thought 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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