Morning Analysis - Once again facing resistance after a surge, with heavy pressure above. How to position in the market as we approach the end of the month!

CN
4 hours ago

Tracking real-time hotspots in the cryptocurrency market and seizing the best trading opportunities, today is Saturday, November 30, 2024, I am Wang Yibo! Good morning, crypto friends! ☀️ Die-hard fans check in 👍 Like to make big money 🍗🍗🌹🌹

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Overnight, U.S. stocks closed early, with the Dow Jones initially rising by 192 points, the S&P 500 up 0.57%, and the Nasdaq up 0.83%. In line with the U.S. stock market, altcoins showed strong gains, particularly in the meme series that have been in correction for a long time and in coins expected to receive spot ETF approvals. The AI artificial intelligence sector also showed a strengthening trend, with notable meme coins including new coins ACT, PNUT, Little Hippo moodeng, and neiro. As the market enters the weekend, continued adjustments in the main market will provide some recovery space for altcoins!

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Bitcoin's performance on Friday night was consistent as usual, with a unilateral rise or pullback at the U.S. stock market opening, followed by a recovery in the early morning. The rebound peaked at around 98630 but could not hold and quickly fell back, forming a clear wide-ranging tug-of-war trend overall, with bulls and bears alternating in their rhythm. There may be adjustment pressure in the short term, and the current high-pressure position remains effective. What needs attention now is whether there is potential for consolidation at high levels. In the short term, focus on the breakout situation in the 98800-99500 range; if it cannot effectively break and stabilize, it will continue to maintain range-bound fluctuations. From the current structure, after the four-hour line spiked to the upper track in the evening, it continued to pull back, and the oscillation range has moved up. Currently, the K-line has turned bearish, indicating further adjustments, pulling the price oscillation range back to the daytime range. Today, pay attention to the 95000 level; only if it breaks during the day should it be considered a stop, otherwise, there will be a wave of downward fluctuations over the weekend, allowing for a small rebound short position. Otherwise, be cautious of the market making another push for a new high, so the current price can be observed.

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Ethereum traded sideways around the 3600 level with reduced volume throughout the day yesterday, and in the evening, it followed the U.S. stock market to test upwards to 3650 but quickly fell back, with a minimum retracement to around 3560 before rebounding to oscillate around 3600. Ethereum's trend is in an upward trajectory, with daily candles forming consecutive bullish rebounds recovering lost ground, and the visible lower lows are continuously rising. The short-term rebound is relatively strong, with a double bullish daily candle, indicating a continuation of the trend. The four-hour chart shows a slow, stepwise upward consolidation, with the mid-track currently still providing effective support, and the price is testing the upper pressure constraints. The hourly chart shows a relatively strong unilateral upward trend, with each pullback stopping at the mid-track point, which serves as a lifeline for short-term bulls; any slight pullback is a buying opportunity. Typically, in a slow rising trend with small bullish candles, without rapid volume expansion, it is temporarily difficult to say that a peak has been reached, and the short-term will maintain this slow rising and winding rhythm.

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💎 In this market, ultimately, it comes down to ability. If your ability is insufficient, what the market gives you will eventually be returned one day. Therefore, when your wealth exceeds your ability, you need to control your drawdown, although this control may be in vain, as that kind of arrogance and hubris in profit will ultimately destroy a person's rationality. However, we do not need to worry about our wealth being lower than our ability in the capital market because this imbalance will eventually be corrected by time. If it has not been corrected, there is only one reason: your ability is insufficient. If you are still in a state of confusion, not understanding technology, unable to read the market, not knowing when to enter, unable to set stop losses, not knowing when to take profits, randomly increasing positions, getting stuck in bottom fishing, unable to hold profits through volatility, and missing opportunities when the market comes, these are common problems among retail investors. But it doesn't matter; come to me, and I will guide you to think correctly about trading. A single profitable trade is worth a thousand words; rather than repeatedly losing, come find Yibo! Frequent operations are not as good as precise trades; let each trade be valuable. What you need to do is find Yibo, and what we need to do is prove that our words are not empty. 24-hour real-time guidance, as market fluctuations are relatively fast, due to the effectiveness of review, for subsequent market trends, real-time arrangements based on actual trading will be the main focus. Friends who need contract guidance can scan the QR code below the article to add my public account.

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