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: 15:27, November 29th, Beijing time
Market Information
- UK Chancellor of the Exchequer: Creating an overly cautious regulatory environment is futile;
- Federal Reserve Board member Waller: If progress continues in reducing inflation, there may be a rate cut in a few months;
- The Financial Supervisory Service of South Korea announced the establishment of a virtual asset regulatory bureau and a virtual asset investigation bureau;
- Ukrainian legislators are considering two cryptocurrency tax bills;
- Charlie Munger passed away at the age of 99;
Market Review
Yesterday, we mentioned that it would be possible to go long after a intraday pullback to support. Although the price of Bitcoin did not eventually reach near 36200 for us to enter, the article advised not to go short, and to wait for a dip to go long. Even if this long position was not captured, there would be no loss. The highest point of Bitcoin yesterday was at 38395, basically breaking through 38436 was just a matter of time. Ethereum also did not provide us with the opportunity to go long at the 1975 level, and its rise was slightly lacking, reaching the 2075 level but not yet reaching 2100, let alone breaking the high point of 2133. Once Bitcoin breaks through, Ethereum will follow the pace. For intraday trading, it's best not to go short and to watch for a breakthrough of the high point.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin did not decline but only reached 36700, not reaching 36200, indicating strong short-term bullishness. The strong support was not reached, and the subsequent rebound approached the previous high of 38436. Although it did not break through, it was not much different if it did. After a small intraday pullback, it once again rose above 38100. The chance of breaking through the 38436 level is very high. For short-term trading, controlling risk is important.
ETH:
Looking at the 4-hour chart, Ethereum's rebound was slightly weaker, but it did not affect the strong bullishness. Ethereum's rise was slower, but not reaching 1975 can still be considered strong in the short term. The chance of a rebound breaking through the high point of 2133 is also very high. If 2133 is broken, the next target for Ethereum is around 2215. After reaching this level and closing with an upper shadow, the short-term rebound will end. It's best not to go short on Ethereum. For intraday trading, pay attention to Bitcoin's breakthrough and be cautious.
In summary:
Bitcoin and Ethereum are showing strong short-term bullishness, and the high point is about to be broken. Pay attention to seizing the opportunity.
The article is time-sensitive, be aware of the risks, and the above is 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 turn 180 degrees as you wish.
There are "freeloaders" everywhere, hoping for someone to lead the way in business, and hoping to break even in trading. There's no such thing as position management because in the concept of being a "leek", position management is not necessary. The thought is: I'm playing 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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