Bitcoin & Ethereum Afternoon Operation Suggestions and Future Trend Analysis｜11/17
This afternoon, the overall cryptocurrency market continues to show weakness. Both Bitcoin (BTC) and Ethereum (ETH) are operating in a downward trend, with a clear bearish arrangement in the technical indicators, insufficient short-term rebound strength, and a calm market sentiment.
The current market is at a critical position, with both bulls and bears waiting for a breakout direction, so it is essential to strictly follow the trend and risk control in operations.
I. Current Market Structure from a Technical Perspective
📉 1. Trend Structure: Clear Bearish Arrangement
Prices are running below both short-term and long-term moving averages;
The moving average system is overall sloping downwards, presenting a standard bearish arrangement;
The market's effective rebound sustainability is weak, belonging to a weak oscillating downward pattern.
📍 2. Key Support Observation Level: 92922.8 (BTC)
Prices are approaching the strong support zone of 92922.8, which is a significant structural support level. Pay attention to whether the battle between bulls and bears intensifies.
📈 3. K-Line Pattern: Bullish Engulfing Appears (But Weak Validity)
Although a bullish engulfing pattern has appeared in the short cycle, theoretically, it has the potential for a rebound;
However, the lack of follow-up volume weakens the signal's validity.
→ Volume and price are not cooperating, making reversal difficult to confirm.
📊 4. Market Rhythm: Higher Probability of Weak Oscillation
Above strong support, short-term oscillations are likely to occur;
If the volume cannot effectively increase, the rebound space should not be overly anticipated.
II. Operation Suggestions (Afternoon Strategy)
🔻 BTC (Bitcoin) Afternoon Strategy
Suggested Position: Short positions in the 95500–96000 range
Target Position: 94000 → 93000 range
If it stabilizes after retracing to support at 92922.8, one can look for a short-term rebound, but do not chase the rise.
🔻 ETH (Ethereum) Afternoon Strategy
Suggested Position: Mainly short positions in the 3200–3220 area
Target Position: 3120 → 3050 range
Similarly, prioritize watching for continued weakness; rebounds are likely to be brief.
III. Future Trend Outlook
📉 Short-Term Trend: Mainly Weak Oscillation
Insufficient volume and clear moving average pressure indicate that the short-term market is still dominated by bears.
📍 Key Point: BTC 92922.8
If it breaks below: The market may enter a new round of decline, further strengthening the bearish trend;
If it stabilizes: A short-term oscillating rebound may form, but a strong reversal requires volume confirmation.
📉 Mid-Term Trend: Weakly Bearish
As long as the price does not regain important moving averages (such as above BTC 96k), the bearish structure remains dominant.
Strategy Summary
The current market is weak; do not blindly catch the bottom;
Do not chase high during weak rebounds; still focus on shorting at highs;
Pay attention to whether BTC 92922.8 support is lost, as this is an important signal point for the next stage of the market.
Wishing you successful trading!
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow the real-time strategies of cryptocurrency experts.】
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