Liying Chat Currency: 11.11 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis
Family! The current price of Bitcoin is 74000, and it really seems to be falling endlessly now. The current price is basically hovering at the lower end of the recent volatility range. Looking at the chart, since the big crash on November 6th, the bulls have basically been pressed down. The price is now constrained by all the EMA moving averages, especially that pink 120-period moving average, which is like a big iron lid, firmly pressing down from above. Although there have been occasional small rebounds, each rebound fails to rise, ultimately having to obediently move down again. The downward momentum has slightly weakened, but there has been no golden cross formed, just weak oscillation. Looking at the Bollinger Bands, the price is currently near the lower band at 73786, with the middle band at 74658, and the price is firmly pressed below the middle band, which is a typical sign of extreme weakness, and it could test the lower band support again at any time.
Practical Strategy: Trend-following shorts, aggressive shorts
Short Entry: Rebound to 74650-74900 Stop Loss: 75300 Target: 73800-73330
Long Entry: Pullback to 73350-73500 Stop Loss: 72900 Target: 74600
Ethereum
Family, the current price of Ethereum is 2063, and the candlestick chart is just dreadful! The trend of Ethereum in recent days can fully be described as blood-red. Since the brief high of 2450 on November 5th, the bulls have completely lost their temper. Especially in these days, it has been a cliff-like drop, with large red bars smashing down, causing countless dip buyers to get hurt. Now the price has reached around 2077, and it is about to test the psychological barrier of 2000. In this kind of market, the bulls do not dare to easily catch falling knives, as no one knows whether there is an abyss below, and panic sentiment has spread in the crypto circle, with everyone worried that it might directly drop and extend downwards. The price has fallen below the middle band and is running very close to the lower band at 2074, with the opening widening downwards, indicating that a new round of one-sided downward trend is accelerating, and the support level is in jeopardy.
Long and Short Game Strategy: Mainly short on rebounds, strictly prevent short traps
Short Entry: Rebound to 2095-2105 Stop Loss: above 2115 Target: aim for 2050, if broken, continue to aim for 2000
Long Entry: Pullback to 2070-2074 Stop Loss: below 2055 Target: aim for a rebound to 2100
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