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: 13:34, November 27th, Beijing time
Market Information
- The US Department of Justice responds to CZ's travel restrictions appeal, prosecutors may seek the statutory maximum sentence of ten years;
- The US Securities and Exchange Commission is discussing the approval of Bitcoin ETF (Bitcoin Archive);
- US Department of Justice: Urges the court to require Zhao Changpeng to stay in the US during the plea and sentencing;
- SEC publishes two memoranda related to the listing of Bitcoin ETF with BlackRock and Grayscale;
- Moody's executive: Binance's new CEO's compliance experience will "open up a path to stability and a new starting point" for the platform;
Market Review
Last Friday, it was suggested that the market would experience a pullback over the weekend, and indeed, the market saw a pullback over the weekend. The highest point for Bitcoin was at 38436, although it did not reach near 38640, it came close. The highest point for Ethereum was at 2133, providing an opportunity for layout. For those who have short positions, these can continue to be held. The short-term target range for the decline has not been reached yet. Bitcoin is expected to be around 36700-36200, and Ethereum around 2005-1975. Continue to hold until the target is reached. For those who have not laid out, look for opportunities to do so during the day, or wait for a decline and layout more positions based on the trend;
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin's rally was initially expected to be near 38640, but after reaching 38436, it did not continue to rebound and started to decline. The market has now come down, and any short-term rally can only happen after this decline ends. The bottom point is expected to be around 36700-36200, which is also near the support of the short-term uptrend line. There will be a great opportunity for a rebound once it reaches this range. The chance of a decline after breaking through 35610 will be smaller. For those who have short positions at high levels, they can continue to hold until 36700-36200 to exit. For those without positions, it is recommended to enter near 37500. After the market reaches around 36200, pay attention to the situation of the 4-hour candlestick and then consider laying out long positions. Trade short-term, control risks, and manage profits and losses;
ETH:
Looking at the 4-hour chart, Ethereum's trend is similar to Bitcoin's. After reaching the short-term pressure around 2130, Ethereum experienced a decline over the weekend. For those who laid out near 2130, there is currently a profit of over 80 points. The short-term target range for this decline is expected to be 2005-1975, and there is still some room for further decline. Short positions can continue to be held, with a trailing stop loss. Looking at the 4-hour trend, Ethereum is still relatively strong, but there will still be opportunities for short-term declines. After the decline reaches near the uptrend line, there will be a greater chance of a rally to break through the high point of 2138. The chance of breaking below 1928 will be smaller. For trading, continue to hold short positions until the target is reached, and then consider laying out long positions near 1975. Trade short-term, control risks, and manage profits and losses;
In summary:
The short-term decline has not ended yet, wait for the decline before going long;
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 to your liking, make a 180-degree turn.
"Handout parties" are everywhere, hoping for someone to lead the business, and hoping to break even in a trade. 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 mind is: I'm playing a game of chance. 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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