Zhou Yanling: 11.24 Sideways Consolidation Ready to Launch, Next Week's Bitcoin and Ethereum Latest Trend Prediction and Analysis
The weekend market is relatively quiet; a temporary sideways movement does not indicate a trend reversal. Yanling believes that friends holding long positions should not panic. The sideways period is a key stage for building momentum for the next upward move. Do not underestimate the fluctuations of these few days; you can treat it as a short-term operation, alternating between long and short positions. The market cannot only rise without falling; this process must be accompanied by healthy fluctuations and consolidations. The overall trend direction is still waiting for support to stabilize before building momentum for another upward surge. You just need to keep this mindset clear, and any market operation will be within your grasp.
From a technical perspective, Bitcoin's recent candlestick chart is still in a clear upward trend, especially with a significant rise between November 21 and 22. On November 23 and 24, the price fluctuated at a high level, forming a certain consolidation pattern. The current MACD is in the negative zone, but the DIF and DEA are gradually converging, indicating short-term rebound momentum. The RSI is currently above 60, approaching the overbought zone, so caution is needed for potential pullback risks. The EMA7 (98198.91) has crossed above the EMA30 (96468.02) and is far from the EMA120 (87636.17), showing that the strong bullish trend is still ongoing. Additionally, the recent surge in Bitcoin has become a hot topic of discussion in major financial circles, with trading volume significantly increasing, and market participants are highly active, attracting more new investors and funds. Therefore, there will still be some room for development in the cryptocurrency market. Long-term bulls do not need to rush to exit; continue to hold and observe. It is also not a problem to take some short-term shorts during this period.
11.24 Bitcoin Trading Strategy:
Short at 99000-98500, stop loss above 99500, target 97800-97200, continue to look for a breakdown near 96200.
Long at 97100-97600, stop loss below 96500, target near 98500-99000, continue to look for upward movement near 99600, if broken, look for around 101500.
11.24 Ethereum Trading Strategy:
Short at 3460-3430, stop loss above 3500, target near 3380, continue to look for a breakdown near 3310, and then around 3260.
Long at 3300-3340, stop loss below 3260, target near 3450, continue to look for upward movement near 3500, and then around 3570.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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