Due to market sentiment, Bitcoin is expected to continue its one-sided downward trend this week as of November 21. Daily market analysis and trading strategy.

CN
孟晓瀚
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2 hours ago

After the United States announced the non-farm employment, unemployment rate, and initial jobless claims data for September, as well as comments from various representatives of the Federal Reserve indicating an increased probability of no interest rate cuts in December, Bitcoin has once again fallen below the key support level of 88,000.

Currently, the daily TD indicator has reached TD9 and is now lagging at TD13, indicating that the trend for this week will primarily be downward. All indicators are showing a downward resonance, and the continuous pressure from the 5-day moving average has led to a one-sided decline in the market. With the high points continuously moving down, the current strong resistance level is around 89,000-90,000. If the price fails to stabilize effectively after a rebound, it will maintain a high short position.

On the 4-hour chart, the current K-line has shown six consecutive bearish candles, and the BOLL bands along with the moving averages are in a resonant downward trend, leading to severe oversold conditions. Combining this with the hourly chart, although the current trend is leaning towards a slight downward fluctuation, there is a significant gap on the daily chart. It is expected that the price will experience a rebound during the day, testing the upper resistance before continuing to decline. The support level below is around 85,000-81,000. For intraday operations, my personal view is to adopt a strategy of buying low and selling high for short-term fluctuations.

Trading Strategy: Buy Bitcoin in batches at 85,500-84,500. Target: 87,000-89,000. Stop loss: 84,000.

For the rebound at the short position, further details will be provided.

Ethereum's short-term trend is basically in sync with Bitcoin, showing extremely poor resistance to declines. Currently, the short-term trend is leaning towards slight fluctuations and declines, with resistance at the high points around 2,900-2,950 and support at the low points around 2,750-2,620. The daily chart's rebound has failed to effectively break through any upper resistance, maintaining a high short position as the main strategy. For intraday operations, my personal view is to adopt a strategy of buying low and selling high for short-term fluctuations.

Ethereum: Buy at 2,780-2,740. Target: 2,840-2,900. Spike target at 2,950. Stop loss: 2,710.

For the rebound at the short position, further details will be provided.
The current trend is expected to be sufficient, and follow-up will continue.
Personal views are for reference only; there may be delays in article review and push notifications. The market changes rapidly, so specific entry and exit points should be based on real-time guidance. Caution is advised when entering the market. Analysis is not easy; your likes and follows on the public account are appreciated for surprises!

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