Currently, from the weekly perspective, Bitcoin and Ethereum have both been in a continuous downward trend. The closing position after the decline is basically consistent with the forecast made on November 17, with Bitcoin at 84,000 and Ethereum at 2,800 near the weekly support level. Based on the previous market analysis, there is still a certain level of support here, so this week's market should focus on adjustment. Whether the subsequent market continues the bearish trend or reverses will need to be observed step by step!
From the daily perspective, Bitcoin has started to close positively around 86,800. Although there is a significant break below the 86,500 resistance line, the performance is not very obvious. The next resistance level is 87,500, and support is at 84,500. If it breaks above, we look at 90,000-92,000; if it breaks below, we look at 82,000-80,000! Ethereum closed around 2,800 and is still in an adjustment phase overall. The upper resistance levels are 2,820-2,850, with a break above looking at 2,950, and support at 2,760, with a break below looking at 2,660!
On the 4-hour level, Bitcoin's current trend continues to show a steady upward posture. The upper resistance is at 87,500, with a break above looking at 89,000-92,500, and support at 85,000-84,000. Ethereum is moving in sync, with a slower pace. The upper resistance is at 2,850-2,880, with a break above looking at 2,980-3,030, and support at 2,760-2,680!
Yesterday's analysis indicated that the current bearish trend should come to a temporary halt, suggesting to go long at lower levels. Unfortunately, the expected pullback position for Bitcoin did not materialize, but Ethereum has shown considerable space, and the previous strategy can continue to be executed!
Trading Strategy:
Go long on Bitcoin at 85,000-85,500, targeting 86,500-88,000, with a stop loss below 83,000;
Go long on Ethereum at 2,760-2,790, targeting 2,850-2,950, with a stop loss below 2,700;
The strategy is time-sensitive, and specific guidance should be based on real-time private consultations!
Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!
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