11.18 The bear market does not speak of a bottom, Bitcoin is about to break below the 90,000 mark, daily market analysis and trading strategy.

CN
孟晓瀚
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5 hours ago

Last night, the US stock market's poor performance dragged down the cryptocurrency market again, resulting in our low volatility strategy set yesterday being regrettably ineffective. Currently, after the daily update, Bitcoin is oscillating and declining along the lower Bollinger Band, with the 5-day moving average continuously exerting pressure, leading to a weak rebound. From the indicators, the MACD and KDJ indicators show a divergence in short-term sentiment, and the TD indicator has reached TD8. Based on the current trend, if Bitcoin moves to TD9 and the price stabilizes above the 5-day moving average, it will confirm a short-term rebound space. Conversely, if it cannot stabilize above the 5-day moving average, the probability of continuing to decline towards TD13 will be very high. Therefore, the pressure from the 5-day moving average at the daily level is the dividing line for short-term bullish and bearish sentiment.

The current trend on the 4-hour chart is extremely poor, with the overall trend of the Bollinger Band showing a downward divergence and the lower band starting to open up downward pressure. The moving averages continue to press down, and all indicators maintain a downward resonance. Judging from the hourly chart, the overall trend still leans towards oscillating downwards. The key resistance above is in the range of 92,200-93,800. The support at the low is in the range of 88,000-82,000. If the intraday rebound cannot effectively break through any resistance above, my personal view is to maintain a bearish outlook.

Trading strategy: Buy in batches at 91,800-92,800. Target: 89,000-88,000. Stop loss: 93,500. No reference for bullish positions.

Ethereum's short-term trend is basically in sync with Bitcoin, but its overall resilience is not as strong as Bitcoin's. The current high resistance is in the range of 3,052-3,100. If the intraday rebound cannot effectively break through any resistance above, my personal view is to maintain a bearish outlook.

Trading idea: Buy at 3,040-3,080. Target: 2,950-2,850. Stop loss: 3,110. No reference for bullish positions. The current trend is expected to be sufficient, and I will continue to follow up.

This personal view is for reference only. There may be delays in article review and push notifications, and the market changes rapidly. Specific entry and exit points should be based on real-time guidance, and caution is advised when entering the market.

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