## Analysis of Bitcoin and Ethereum Market on 2023.11.16
The recent trend of Bitcoin has been difficult to describe. The day before yesterday, it fell from around 38000 to the 34500 level, and yesterday evening it recovered the decline and surged to the 38000 level again. Amidst the back and forth, the short-selling strategy provided yesterday was inevitably swept away!
Currently, the trend is still running within the ascending channel. The idea remains the same: since it is a continuation structure within the ascending channel during the upward process, this structure is more likely to appear as a reversal structure. Therefore, I believe that sooner or later, there will be a breakthrough of this channel.
The coin price is currently at the top of the channel. Before breaking through this level, it is recommended to focus on shorting here.
Bitcoin trading suggestion: Short at the rebound to the 37800 level 🈳, with a target of 37000 and a defense at 38300.
Ethereum trading suggestion: Short at 2070 🈳, with a target of 2000 and a defense at 2110.
The above suggestions are for reference only!
ps: All based on technical analysis, all operations are rational and well-founded! For more information, follow Lao Feng's WeChat public account: Lao Feng Shuo Bi A!
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