Li Ying's Chat Currency: 11.14 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis
Family members! The current price of Bitcoin is 68,500. Over the past half month, Bitcoin has plunged from 81,188 to 67,449. That big downward candle on the 2-hour chart stabbed down like a knife, causing many people to be liquidated and many to sell at a loss; the comments section is filled with wailing. But you must see clearly, the current price of 68,800 has already rebounded over 1,300 dollars from the lowest point, indicating that there is capital buying at this level. In times of panic, it is often others who are picking up your bloodied chips. The MACD on the 2-hour chart shows a typical bear-dominated pattern, but the green bars have clearly shortened, indicating a decrease in downward momentum. The Bollinger Bands are widely open, and after the price runs along the lower band, it begins to detach, with the middle band at 71,244 as short-term strong resistance. All three EMA lines are diverging downwards, belonging to a standard bear arrangement, with a high probability of encountering resistance when rebounding near the EMA7.
Long position: 68,000—68,300 try long with light positions, stop loss at 67,400, target 70,500→71,500
Short position: Partially short at 71,200—71,500 on rebound, stop loss at 72,300, target 68,800→67,400
The trend has not reversed, only short-term shorts should be taken during the rebound, don’t cling to fights.
Ethereum
Family members, the current price of Ethereum is 1,930. It has plunged from 2,449 all the way down, with the lowest point touching 1,893. There has hardly been any decent rebound in between, and many people tried to catch the bottom halfway, only to sell at the floor price. Now the price is stuck at 1,931, looking like it has stopped falling, but would you dare to enter with a heavy position? No, you wouldn't. That's how the market works; when it falls, everyone shouts it’s cheap, but when it comes down to their feet, they all turn into cowards. From the peak on November 5, the drop has exceeded 21%, typical of a sharp decline entering a consolidation phase for bottom building. The next few days are crucial; either there will be a significant increase or it will break the previous low again, without any middle ground. The three EMA lines are in a standard bear arrangement, with the MACD red bars continually shortening, signaling a decrease in downward momentum. The middle band of the Bollinger Bands is at 1,997, upper band at 2,088, lower band at 1,905, and after running along the lower band, the price begins to return towards the middle band, indicating a slight closing in the bands, which usually means volatility is about to choose a direction. Overall, it belongs to the repair stage at the end of the bearish trend.
Long position: 1,900-1,915 try long with light positions, stop loss at 1,885, target 1,997, 2,050
Short position: Partially short at 2,010-2,030 on rebound, stop loss at 2,055, target 1,920, 1,893
Key: 1,893 is the line of life and death; hold the bottom building, if it breaks look to 1,800. Single position should not exceed 10%, only short trades.
The above content is exclusively created by Li Ying, please indicate the source when reprinting! Article publication review has delay, market conditions change rapidly, the above suggestions are for reference only and risks are borne by oneself.
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