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: 15:10, November 30th, Beijing time
Market Information
- The Brazilian Senate approved the imposition of a 15% tax on overseas-held cryptocurrencies starting from January 1, 2024;
- Mike Novogratz: It is expected that the United States will launch a spot Bitcoin ETF in 2024;
- CZ hired former senior federal prosecutor Matthew Diggs as his defense lawyer;
- Binance's new CEO: The executive team will "remain intact" and there is no rush to reshape it;
- BlackRock met with the SEC again to discuss ETFs, presenting revised physical model designs;
Market Review
Yesterday, Bitcoin broke the high point of 38436 in the short term, reaching a high of 38480. However, after the breakthrough, it did not continue to rise, and there was a pullback in the evening, with the low point of the pullback at 37544. It was a feint, and those who chased the rise without proper protection may have been harvested in the short term. Ethereum's rebound was not as high, reaching only 2076 at the highest point, with a low point of around 2018 in the evening. The bulls did not exert much force after the short-term pullback. After the short-term pullback, will there be a continued rebound during the day?
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin's price remained high yesterday, and after breaking the previous high, it did not continue to rise, leading to a slight decline. After a night of fluctuations, Bitcoin has been testing around 37600 without breaking through, and has received several lower shadows. This position can be considered as short-term support during the day. Although there was a small pullback, the bulls are still strong. There should be no problem with the future rise to around 39500, it just needs some time. For short-term trading, as long as it does not break the position of 36709 during the day, long positions are safe. The key points to pay attention to during the day are the short-term support at 37600. If it breaks, look at around 37100. Once the rebound starts, it will not be a feint, and it will head towards 39500. Take control of entry opportunities for short-term trading and manage risks on your own; profits and losses are your own responsibility.
ETH:
Looking at the 4-hour chart, the strength of Ethereum's rebound in this wave is not significant, and it has not yet reached the short-term pressure around 2105, let alone the previous high point of 2133. Last night, it experienced a short-term pullback following Bitcoin. Currently, the 4-hour trend still shows strong bullish momentum. The short-term pressure is first seen around 2105, and after reaching this level, pay attention to the situation of breaking through 2133. The trend of Ethereum also needs to pay attention to Bitcoin's continued rise and breakthrough. Currently, Bitcoin's rise is strong, while Ethereum's rebound is weaker. Only when Bitcoin rises almost to its peak will Ethereum have the opportunity to catch up. Ethereum is still expected to rebound during the day, with support around 2020. This short-term pullback also saw several lower shadows after reaching around 2020, without continuing to decline. As long as it does not break below 1984, there should be no problem with long positions. Take control of entry opportunities for short-term trading and manage risks on your own; profits and losses are your own responsibility.
In summary:
Short-term support is encountered during the decline, and a rebound will continue during the day;
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 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. The thought in mind 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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