Li Ying Chat Currency: 11.12 Latest Bitcoin (BTC) and Ethereum (ETH) Market Analysis
Family! The current price of Bitcoin is 73550, riding this roller coaster makes my heart almost jump out! Many friends who just entered the market might be wondering if they should buy the dip again, but the seasoned traders are shivering, fearing another waterfall will wipe out their pants. The current market sentiment is that bulls and bears are in fierce combat, and no one dares to make a move. Don’t panic, today we will put aside those vague predictions and go straight to the hard facts, using the most intuitive technical analysis to help you understand whether this wave of market action is truly a correction or a false drop, keeping a steady mindset, we won't panic! The price is currently closely following the lower track at 72943; the channel opening is slightly expanding downward, which usually signals a change in trend or an accelerated decline, but as long as the middle track at 75008 holds, there is still a chance for stabilization in the future.
Currently, it's recommended to focus on defensive counterattacks, avoid chasing highs and selling lows, strictly control stock holdings and have stop-loss measures in place:
Short strategy: Lightly short when the price rebounds to the 74000-74300 area, with a stop-loss at 74800 and a target of 72600 or lower.
Long strategy: Patiently wait for a pullback to stabilize at 72600-72900, enter when a lower shadow or a bullish engulfing pattern appears. Stop-loss at 72400, target 73500-74000.
Ethereum
Family, the current price of Ethereum is 2067. As shown in the chart, the price has sharply dropped from the previous high of 2449, recently like a kite with a broken string, seeking support downward. Although today the price fell below the 2003 level during trading, it has struggled to recover a bit now. This indicates that both bulls and bears are fiercely contesting around the psychological barrier of 2000. The current market situation feels like it's bottoming out, many friends wanting to buy the dip are hesitant, while those holding short positions are afraid of an impending reversal. The moving average system shows a perfect bearish arrangement. The current MACD shows that DIF is below DEA, and the bearish strength is weakening. The Bollinger Bands have widened sharply, with the price trading closely along the lower track at 2011. This is a typical oversold signal, indicating that the price is in an extremely weak zone, which could trigger a technical rebound toward the middle track at 2071 at any time.
Short at 2080 - 2090 with a stop-loss above 2115, target: near the previous low of 2010.
Long at 2000 - 2010 with a stop-loss below 1985, target: 2050-2100.
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