Li Ying Chat Currency: 11.12 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis
Family! The current price of Bitcoin is 73550, this roller coaster is making my heart race! Many friends who just entered the market might think about bottom fishing again, but the seasoned traders are shaking in fear, worried that another waterfall will wipe out their pants. The current market sentiment is a fierce battle between bulls and bears, and no one dares to make a move. Don't panic, today we will set aside those vague predictions and get straight to the point, using the most intuitive technical analysis to help you analyze the underlying trend of this market, allowing you to see clearly whether it is a true correction or a false drop. Stay calm, we are not panicking! The price is currently closely following the lower track at 72943, the channel opening is slightly widening downwards, which usually signals a trend change or accelerated decline. However, as long as we can hold the mid track at 75008 without breaking, there is still a chance for stability in the future.
Currently, it is recommended to focus on defense and counterattack; avoid chasing highs and cutting losses, strictly control positions, and set stop-losses:
Shorting Strategy: Lightly short in the 74000-74300 range, stop-loss at 74800, target 72600 and lower.
Longing Strategy: Patiently wait for a pullback to stabilize around 72600-72900, and enter when a lower shadow appears or a bullish engulfing pattern occurs. Stop-loss at 72400, target 73500-74000.
Ethereum
Family, the current price of Ethereum is 2067, as you can see in the chart, the price has dropped from the previous high of 2449 all at once, and in the past few days, it has been like a kite with a broken string, continuously looking for support downwards. Although it broke the 2003 barrier during the day, it has now struggled to recover a little bit. This indicates that both sides of bulls and bears are fiercely competing near the psychological barrier of 2000. The current market situation is like bottom grinding, many friends who want to catch the bottom are hesitant to enter, while those holding short positions are worried about an imminent reversal. The moving average system shows a perfect bearish arrangement. The current MACD's DIF is below the DEA, and the bearish strength is weakening. The Bollinger Bands are rapidly widening, and the price is closely following the lower track at 2011. This is a typical signal of overselling, indicating that the price is in an extremely weak area and may trigger a technical rebound towards the mid-track at 2071 at any time.
Shorting at 2080 - 2090 with a stop-loss: above 2115, target: look for the previous low near 2010.
Longing at 2000 - 2010 with a stop-loss: below 1985, target: 2050-2100.
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