Market analysis on November 16: Bitcoin rebounded in the short term at the 1h level, and will further start a 4h correction after next week

Daily Share

Bitcoin broke through 90800 last night, so it is currently rebounding at the 1h level. This 1h rise should have a chance to hit 93625. But in fact, it is difficult to rise too much for the time being. Bitcoin's current short-term upward momentum is exhausted, so after a short-term rebound, it will return to short-term adjustments again, because the overall adjustment time is insufficient and the indicators also need further repair.

In this way, everyone still has the opportunity to enter the market at a lower price and there is no need to be overly anxious.
 

BTC

Due to the rapid changes in the short-term market, the article can only predict the market changes at the moment of publication. Short-term players should pay attention to the latest changes in the market and use it as a reference only.

1H：

At the 1h level, there is a 1h level rise here, and it is expected to go above 93000 again. After this 1h rise is over, there should be a 4h level correction. The strength of the correction will be seen later. The overall rise has been so much, and the short-term adjustment should continue.
 

15M：

At the 15-minute level, there should be another 15-minute level rise to see if it can break through 93000. The support below is around 90000.
 

ETH

The above picture shows the structure of Ethereum at the 15-minute level. The yellow arrow on the left is the structure of the 1h-level decline, with the lowest level falling back to around 3014. The right side is the expected 1h-level rebound. Let's see if it can break through 3300. If it can break through, it is expected to reach above 3400. If it fails to break through 3300 at one time, it tends to build a 1h-level center in the short term, and then break through 3400 upwards.

At the 15-minute level, the current support below is at 3092. If it does not fall below this position, the 1h level rise will not end.

Trend Direction

Weekly level: The direction is upward, and a new weekly level rise is currently underway, with the overall target of 100,000+

Daily level: The direction is upward, the daily level rise, first see whether it will break through 100,000

4-hour level: The direction is upward, focus on 95000

1 hour level: The direction is upward. The current 1h level is rising. Let’s see if it will hit 95,000.

15-minute level: The direction is upward. There should be another 15-minute level rise at present. Let's see the upward strength.