Zhou Yanling: 11.20 Bitcoin BTC and Ethereum ETH Latest Trend Prediction Analysis and Trading Strategy
The market's expectations for employment data have turned pessimistic. On Tuesday, the initial and continuing jobless claims were mediocre, and the evening's ADP weekly data showed that demand continues to weaken, pushing the expectations for a rate cut in December back up. The current market is repeatedly pricing in rate cut expectations, combined with geopolitical risks supporting cryptocurrency prices, resulting in a short-term wide fluctuation with a slight upward movement in the lows. The current market situation is similar to the consolidation phase from July to September, making it more difficult for bears to operate, with limited room for correction and unclear direction until a breakout occurs. In terms of trading advice, it is suggested to maintain breakout expectations but reduce positions, adhering to the principle of "seeing a breakout but not acting on it" to avoid missing potential opportunities. Additionally, there will be a speech from the Federal Reserve at 3 AM and non-farm payroll data will be released tonight at 21:30, so it is important to pay attention to risk control measures during operations.
Currently, from a technical perspective, Bitcoin shows a continuous decline in price on the daily chart, forming multiple bearish candles, indicating an overall weak pattern. On the hourly chart, there is some support around 89000, but the rebound strength is weak, with small candlestick bodies and clear competition between bulls and bears. The hourly MACD histogram remains negative, with both DIF and DEA below the zero axis, indicating a bearish short-term trend; the daily MACD is also in a death cross state, favoring bears. The hourly RSI is at 37, close to the oversold area but not yet in it, suggesting a potential technical rebound demand in the short term; the daily RSI is at 40, still in a weak area. The hourly EMA7 is far from the current price, indicating significant price pressure; both EMA30 and EMA120 are above the current price, with the short to medium-term trend still downward.
Zhou Yanling's 11.20 Bitcoin Trading Strategy:
Short at 92000-91000, stop loss above 93000, target around 89000, if broken down, look for around 86500.
Long at 86300-87300, stop loss below 85300, target 89000-90000.
Zhou Yanling's 11.20 Ethereum Trading Strategy:
Short at 3080-3040, stop loss above 3130, target 2850-2800.
Long at 2800-2840, stop loss below 2750, target 2950-3000.
【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 contract/spot operations. The author has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, emphasizes capital management and risk control, and is recognized by many investors for a stable and decisive trading style, along with a friendly and responsible personality.
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