Preface: Investment involves risks, please proceed with caution.
Article review takes time and may be delayed. The article is for reference only, welcome to read!
Time of writing: 23:49, November 24th, Beijing time
Market Information
- Foreign media: Interactive Brokers Hong Kong has obtained a retail virtual asset trading license in Hong Kong;
- Court documents: CZ argues that he should be allowed to return to the UAE or be "exempt from imprisonment" before the verdict is announced;
- A British investment fund has been approved for tokenization;
- The Hong Kong Securities and Futures Commission has included "Hong Kong Digital Research Institute" in the list of suspicious virtual asset trading platforms;
- JPMorgan: Binance's settlement with the US government is positive for the cryptocurrency industry and exchanges;
Market Review
After yesterday's market broke through, due to the closing of the 4-hour candle, a small short position was taken in the evening. However, it was also mentioned in the article that if it did not break above 37700, the short position would be abandoned. It did not break above last night, but it did tonight. The highest rebound point was at 38309, still not reaching near 38640. Ethereum's highest rally point was at 2129, basically reaching near 2130. Last night, we mentioned that if the market broke above 2070, the next short position would be near 2130, which was achieved during the day. Those who laid out a short position near 2130 for Ethereum last night can hold on. As for Bitcoin, it still needs to wait and see if it reaches 38640 before making a layout;
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin showed a long upper shadow after breaking through, only providing a small pullback to 36862, not reaching our predicted range below 36500. Intraday, it rebounded and broke the short-term high point. At the moment of breaking through the short-term high point of 37765, the market was bullish, as the 4-hour candle misled a wave. Bitcoin reached above 38000 in the evening, with the next focus point near 38640. After reaching near 38640, if a long upper shadow appears, it can be directly shorted, with the target range for the decline at 36800-36300. This is basically the retracement for the weekend. Pay attention to opening a short position when a long upper shadow appears at high levels, and manage the entry opportunities on your own; for short-term trading, manage the risk and take care of profits and losses;
ETH:
Looking at the 4-hour chart, Ethereum showed a long upper shadow after reaching near 2130, as Bitcoin did not rebound to the expected level, making it difficult for Ethereum to decline here. In the evening, it still needs to pay attention to the situation after Bitcoin reaches the pressure near 38640. The layout for short positions in Ethereum should follow Bitcoin's entry synchronously, and it should not be much different from 2130. The expected decline range is 2005-1975, which is also the retracement for the weekend. Manage the entry opportunities on your own; for short-term trading, manage the risk and take care of profits and losses;
In summary:
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 gets milk. 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 someone will lead the way in business, and hoping to break even in trading. There has never been such a thing as position management, because in the concept of being a "leek", position management is not needed. What's in their minds 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 this continues, it will definitely be blown away by a strong wind.
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