Zhou Yanling: 11.17 The Bear Market in the Crypto Circle Begins - Latest BTC and ETH Prediction Analysis and Trading Strategies This Week
Looking back, we can see that when Bitcoin was at 120,000, signs were already emerging that the Bitcoin bull market had ended. Friends familiar with the crypto circle know that every halving tends to trigger a bull market, and the end of a bull market usually results in a sharp decline. Therefore, once Bitcoin falls below 90,000, we need to be cautious, and further declines could extend to around 75,000. Although the current price is much lower than before, it is still not the right time to buy the dip and expect a bullish price movement. In the short to medium term, the trend is expected to remain weak.
From a technical perspective, the current daily chart shows a continuous decline in price, forming a series of bearish candles, indicating an overall weak pattern. On the hourly chart, after a pullback from a high, the price is consolidating in a narrow range, with no clear reversal signals appearing. The MACD on the hourly chart shows both DIF and DEA are negative and gradually declining, with the MACD histogram's green bars expanding, indicating that bearish forces are dominant. The RSI on the hourly chart is at 32, close to the oversold area, but has not yet entered extreme oversold territory, suggesting a short-term technical rebound is needed. The EMA on the hourly chart shows a bearish arrangement for the 7, 30, and 120 moving averages, with the price operating below the EMA7, indicating a downward trend. The daily EMA also shows a bearish arrangement, further confirming the overall weakness, and this week's strategy will continue to focus on shorting during rebounds.
Zhou Yanling's 11.17 Bitcoin Trading Strategy:
Short at 95,600-94,800, stop loss above 96,600, target 92,000-91,000
Long at 90,500-91,500, stop loss below 89,500, target 93,000-93,800
Zhou Yanling's 11.17 Ethereum Trading Strategy:
Short at 3,150-3,100, stop loss above 3,200, target 2,850-2,800
Long at 2,800-2,840, stop loss below 2,750, target 2,930-2,980
【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 focusing on analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other crypto contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing yet responsible character and sharp, decisive operations.
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