Liying Chat Currency: 11.12 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis
Family! The current price of Bitcoin is 73550, this roller coaster ride is making my heart race! Many friends who have just entered the market may wonder if they should bottom fish again, but the old players are trembling in fear, worried that another waterfall will take away everything. The current market sentiment is a fierce battle between bulls and bears, and no one dares to make reckless moves. Don’t panic, today we will set aside those ethereal predictions, and get straight to the point, using the most intuitive technical analysis to help you strip down this wave of market movements, allowing you to see whether it's a real correction or a false drop, keeping a stable mindset, we won’t panic! The price is currently closely adhering to the lower track of 72943, and the channel's opening is slightly widening downwards, which usually signals a change in trend or accelerated decline, but as long as it can hold the middle track of 75008 without breaking, there is still a chance for stabilization in the future.
Currently, it is advised to focus on defense and counterattacks, avoiding chasing highs and cutting losses, and strictly controlling positions with good stop-loss practices:
Short Selling Strategy: Light shorts in the 74000-74300 range, stop-loss at 74800, target at 72600 and lower.
Long Buying Strategy: Patiently wait for a rebound to stabilize between 72600-72900; enter when a lower shadow line or bullish engulfing appears. Stop-loss at 72400, target at 73500-74000.
Ethereum
Family, the current price of Ethereum is 2067. Looking at the chart, the price has dropped sharply from the previous high of 2449, recently behaving like a kite with a broken string, continuously falling to seek support. Although today during the session, it broke below the 2003 mark, it has fought to recover a little bit. This indicates that both bulls and bears are fiercely contending around the psychological barrier of 2000. The current market is like it’s bottoming out; many who want to bottom fish are hesitant to enter, while those holding short positions are afraid of a reversal at any moment. The moving average system shows a perfect bearish arrangement. Currently, the MACD’s DIF is below the DEA, and bearish power is weakening. The Bollinger bands have widened sharply, with the price closely following the lower track of 2011. This is a typical oversold signal, indicating that the price is in an extremely weak area, potentially triggering a technical rebound towards the middle track at 2071.
Short at 2080 - 2090, stop-loss: above 2115, target: look for the previous low around 2010.
Long at 2000 - 2010, stop-loss: below 1985, target: 2050-2100.
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