November 22 Market Analysis: $BTC Hits 100,000, $ETH Rallies!
Bitcoin has been steadily gaining in the past few days. Although it hasn't increased much daily, it keeps reaching new highs, now just 2% away from the 100,000 mark. This trend is about what I expected. Some people keep saying the market will drop; there will indeed be a major correction, but I still see high volatility in the short term. So, don’t short easily these days; many people have been caught in short positions, and the risk of liquidation is high because the timing was not right.
Ethereum is starting to gain momentum as well, hopefully rallying to around 3,700. As I mentioned yesterday, strengths and weaknesses will shift, so don’t underestimate any coin that seems weak.
BTC Brief Review
The market is changing quickly, and I can only express my current view; short-term players need to keep a close watch.
1-hour view:
Bitcoin is still in an upward trend on the 1-hour scale; this wave should not be over, and it may pull back a bit first before rallying again. After this wave peaks, there will be a correction, but as long as it doesn't drop below 91,800, it can continue to reach new highs later.
The number 100,000 is a psychological barrier for everyone; even if it passes, it may not rise much, but given the current situation, a correction is inevitable; it’s just not the right time yet.
15-minute view:
On the 15-minute scale, Bitcoin is not rising slowly; there might be a minor pullback tonight, and around 96,000 is a point of interest. After that, there should be a rebound, with the target still set on 100,000.
ETH Brief Review
Ethereum has finally risen, meeting expectations. On the 1-hour scale, it has consolidated for a while and is now starting to rise, with the first target at 3,500 and the second at 3,700.
On the 15-minute scale, Ethereum has just started to rise and will need to pull back a bit before continuing to rise, so hold onto your low-position long positions.
How to view the trend?
Weekly: Upward, in a new wave of increase, target above 100,000.
Daily: Upward, see if it can break through 100,000.
4-hour: Upward, watch the range between 100,000 and 110,000.
1-hour: Upward, Bitcoin is still rising; 100,000 is not a dream.
15-minute: Upward, after a slight pullback, continue to look bullish.
If you want to seize this bull market, it’s definitely too late to learn on the go; it’s best if someone can help you get started quickly.
I am Uncle Lei, welcome to communicate!
