Market analysis on November 28th: After the rebound on the 1-hour chart, pay attention to the opportunity for a secondary sell-off in the big cake.

CN
2 years ago

Daily Sharing

Today, Bing Ge should normally run a rebound at the 1-hour level. Yesterday, we mentioned that a rebound at the 15-minute level would likely result in a triple sell-off, followed by another 15-minute decline. Therefore, this morning's rebound is actually a triple sell-off. The 15-minute level retracement during the day did not break the low point from last night, so there is an opportunity for a 1-hour level rebound.

However, the rebound is likely to result in a double sell-off, meaning that if the rebound does not reach a new high and forms a second selling point, it will be an opportunity to reduce spot positions and go short. Currently, it's best to wait patiently.

As for whether Bitcoin will experience a daily level retracement, it's hard to say for now. There is an expectation for it, but if the retracement does not break 34800 and forms a consolidation, there is still a possibility of reaching a new high before a daily level retracement. Therefore, for now, we can only look at the strength of the 4-hour level decline to determine if it will lead to a daily level retracement. The current 4-hour level decline is not yet complete.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes and use this information as a reference only.

1H:

At the 1-hour level, there should be a second 1-hour level rebound here. If it successfully occurs, pay attention to the vicinity of 37600 to 37750. After the second 1-hour level rebound, there is likely to be a third 1-hour level decline. Pay attention to the strength of the third decline. If the third decline breaks below 35800, it is likely not a divergence, and there will be more than three declines, possibly five or more.

15M:

At the 15-minute level, under normal circumstances, there should be a rebound to at least 37600 as indicated by the blue arrow. However, it's also important to note that if the price fails to rebound and falls below last night's low point, as indicated by the white arrow, it means that the 1-hour level decline will extend further, indicating a stronger downward momentum. For now, it's best to consider it as a 1-hour level rebound.

ETH

The situation is similar for Ethereum. First, look for a 1-hour level rebound to around 2060. If it successfully occurs, then pay attention to the strength of the third 1-hour level decline. Staying above 2000 in the short term should lead to a successful second 1-hour level rebound. If it falls below, look for an extension of the previous decline.

Trend Direction

Weekly Level: Upward, currently a continuation of the weekly rebound from 15476. Pay attention to the subsequent daily level situation to determine when it will end.

Daily Level: Upward or downward, whether the daily rebound ends needs to be observed based on whether 34800 is broken.

4-hour Level: Downward, there is likely to be a 4-hour level decline here.

1-hour Level: Upward, there is a short-term opportunity for a 1-hour level rebound to around 37600.

15-minute Level: Upward, the 15-minute level rebound is a bit weak, so it's important to observe whether the previous decline will extend.

Feel free to follow my public account for discussions and exchanges:

The article is time-sensitive, so be mindful of the risks. The above is only personal advice and is for reference only!

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