11.19 The battle between Bitcoin and Ethereum intensifies! Key resistance is under pressure, and the downtrend is clear.

CN
4 hours ago

As a veteran in the cryptocurrency space, I have been deeply involved in this captivating and challenging industry for many years. Having experienced the ups and downs of the crypto market and witnessed the rise and fall of countless cryptocurrencies, I have accumulated rich practical experience and unique market insights. Investing is a long-term practice, and this is especially true in the crypto world. Continuous learning and improving one's cognitive and judgment abilities are essential to navigate this challenging field steadily.

From the daily perspective of Bitcoin, the market hit a low of 89,000 and climbed to a high of 93,800. Currently, the EMA15 trend line has formed a key resistance at 99,300; the MACD indicator shows a contraction, but the DIF and DEA have not yet shown a contraction signal, indicating that the correction process has not yet ended. In terms of the Bollinger Bands, the lower support is at 99,900, and the middle resistance is at 102,000. Previously, the market experienced extreme overbought conditions before dropping to around 89,000. The short-term downward trend is still continuing.

The four-hour candlestick chart shows a three consecutive bullish trend, with the price approaching the resistance level of 94,300 before being blocked and retreating, currently operating below this level. The MACD indicator has ended its contraction phase and is beginning to increase in volume, with the DIF and DEA forming a golden cross, validating the upward trend's effectiveness. If the resistance level of 94,200 is effectively broken, the bullish trend will continue; if it fails to break, the market is likely to return to a downward trend. Friends who have not yet entered the market can wait for a correction to find suitable entry opportunities.

BTC: Short positions are set between 94,000 and 94,500. If it rises to 95,000, add to the short position with a stop loss of 500 points, targeting 93,500, 93,000, and 92,000.

ETH: If Ethereum has short positions around 3,100, consider adding to the position at 3,200; the range of 3,150 to 3,200 is a good opportunity for shorting. The targets below are sequentially 3,000, 2,900, and 2,800.

Disclaimer: The above analysis only represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk; investing carries risks, and caution is advised when entering the market.

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