Li Ying Chat Currency: 11.10 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis
Family! The current price of Bitcoin is 75000, and the trend in the past couple of days has been like sliding down a slide. A few days ago, there was a sudden drop; although there was a slight pause and rebound, it was not stable at all and was directly suppressed by the bear army. The current situation is very clear; the bulls have completely surrendered, and the market is full of panic selling. This kind of deep drop with no bottom can be very taxing, and you must not blindly guess where the bottom is, because there might be a basement below it. The technical indicators perfectly show a bearish trend. The EM standard bearish arrangement shows a weak rebound. The MACD indicator indicates severe selling pressure. The Bollinger Bands have a unidirectional downward channel, meaning that the downward momentum is still strong, and any rebound that does not have volume will be seen as a lure for more buyers.
Bull and Bear Practical Strategies
Main Bear Strategy: Short when rebounding to 75500-76000, stop loss at 76500, target at 74000 - 73000.
Auxiliary Bull Strategy: Stabilize and lightly go long at 73000-73333, stop loss at 72500, take profit at 74500.
Ethereum
Family, the current price of Ethereum is 2135, a gradual boiling frog situation. Since the big downward bar on November 5, the bulls have completely lost their temper; the current market situation is like a dull knife cutting flesh. Although the price is hovering around 2136 and seems to be ranging, if you look closely at the lower Bollinger Bands, both the upper and lower bands are widening, indicating that the market is holding back a big move, and there is a high probability that it will test lower levels again. The bearish arrangement on the technical side is quite obvious; the moving average system has formed a death cross and three-line bearish arrangement, indicating that both the long-term and medium-short term trends are down. Although the MACD indicator's downward momentum has weakened, there is still no clear golden cross reversal signal. The Bollinger Bands are currently in a downward opening state, with prices running closely to the lower band at 2065, and the middle band at 2179 forms strong resistance. As long as the price cannot effectively rise above 2179, the downward trend is hard to say to be over.
Main Bear Strategy
Entry Point: Short at the rebound range of 2170-2185.
Stop Loss: 2200.
Target: First look at 2050, if broken look at 2000.
Speculative Strategy
Entry Point: After a sharp drop to 2060-2070 and forming a lower shadow line, lightly go long.
Stop Loss: 2045.
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