Zhou Yanling: The 11.7 Election Lands, Returning to Calm; Interest Rate Decision Approaches, Beware of Downward Risks
The election has concluded with great momentum, but ultimately returns to calm, and everything comes naturally. The bulls during this period have made a substantial profit, congratulations to everyone once again. Next, we need to focus on the upcoming Federal Reserve interest rate decision; a rate cut would lead to a rise in cryptocurrency prices, while a rate hike would further pressure the bears. Now that prices have dropped, it actually creates better opportunities for trading, whether bullish or bearish.
From the market trend, Bitcoin started to decline around 5 AM from its historical high near 76,400, and has since dropped by 2,000 points, showing weak short-term performance. The daily 5-day and 10-day moving averages have crossed downwards, the MACD indicator has crossed downwards, and the KDJ and RSI indicators have also crossed downwards, indicating that Bitcoin has further short-term correction risks. Additionally, the situation in the Middle East remains tense, but Trump's economic policies are favorable for the dollar and exacerbate inflation concerns, leading to reduced market bets on a Federal Reserve rate cut, which may pressure cryptocurrency prices in the short term. Therefore, caution is advised when chasing long positions today to prevent a rapid pullback after good news is fully priced in; pay attention to the support around 73,000 and the resistance at the high point of 76,500.
11.7 Bitcoin Trading Strategy:
Short at 75,800-75,200, stop loss above 76,400, target 73,800-73,300, continue to look for a downward target around 72,700.
Long at 73,000-73,600, stop loss below 72,500, target 74,800-75,300, continue to look for an upward target around 76,200.
11.7 Ethereum Trading Strategy:
Short at 2,870-2,830, stop loss above 2,910, target around 2,760-2,720.
Long at 2,720-2,760, stop loss below 2,680, target 2,840-2,880.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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