Zhou Yanling: How to Resolve the Long Position Trapped by the Bitcoin Plunge on November 23? Latest Analysis and Trading Strategies for BTC and ETH Today
The slight increase on Friday was mainly driven by two pieces of news: first, the Ukrainian side and the European Union rejected key parts of the peace agreement drafted by M country, bringing the Russia-Ukraine conflict back into market focus; second, the voting member and New York Fed President Williams delivered a dovish speech, causing the probability of a Fed rate cut in December to jump from below 30% to nearly 70%, which briefly boosted cryptocurrency prices. There is a divergence in the Fed's internal stance, with Logan and Kroszner leaning towards pausing rate cuts, while Governor Mulan supports a rate cut. Additionally, it is essential to continue monitoring developments in regions such as Japan and the U.S. Commission, as well as the progress of the Fed's rate cuts, which are currently of high market interest and significant impact.
Currently, from a technical indicator perspective, the daily chart shows that cryptocurrency prices have been continuously declining, forming multiple bearish candles, indicating an overall weak pattern, but there are signs of a potential stop in the short term. On the hourly chart, there is a consolidation around 84600, with small K-line bodies indicating a temporary balance between bullish and bearish forces. The hourly MACD histogram has turned from green to red, with DIF and DEA gradually converging, suggesting a potential golden cross; however, the daily MACD remains below the zero line, and the bearish trend has not completely reversed. The hourly RSI is at 50.27, close to the neutral zone, with no significant overbought or oversold signals in the short term; the daily RSI is relatively low, and market sentiment remains cautious. The hourly EMA7 is close to the current price, providing support; EMA30 is slightly above the current price, posing upward pressure; EMA120 is far from the current price, indicating a long-term bearish trend.
Zhou Yanling's Trading Strategy for Bitcoin on November 23:
Short at 87500-86500, stop loss above 88500, target 83500-82500
Long at 82000-83000, stop loss below 81000, target 85000-86000
Zhou Yanling's Trading Strategy for Ethereum on November 23:
Short at 2870-2820, stop loss above 2920, target 2700-2650
Long at 2650-2700, stop loss below 2600, target 2800-2850
【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 cryptocurrency market investment research for over ten years, currently focusing on analysis and guidance for BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. The author possesses 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 investment friends for a stable and decisive trading style, along with a friendly and responsible personality.
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