11.9 Saturday BTC and ETH market summary: weak rise, be vigilant!
This week, due to the influence of Trump's coming to power and the Fed's interest rate decision, the big cake has reached a record high. It is currently in a shock correction stage. The price behavior is in the fourth push upward, but the pin point is low and the rise is weak. Last night's post suggested that the high-altitude is the main one. From the intraday trend, it is basically in line with expectations and very accurate. As long as the structure is not destroyed, it can be done by opening a short position at a high level. The weekend market is basically volatile. Next week, focus on the position of 71990, a big support. The monthly line is bullish and will rise if it does not fall below.
From the weekly chart of BTC: the trend line structure is upward, at the key node of 3 waves rising and 4 falling, because the 3rd wave is the longest, once the turning point is formed at the top 77180, it will definitely fall sharply, stepping back to the lowest point below 71990, either down or rebounding to break the new high in five waves. It is very clear here when combined with MACD and OBV. The indicator is in the third rising stage, and the real positive column is gradually rising. The general direction belongs to an obvious upward trend, so it is very clear to see the trend chart. After the general direction is set, the 4-hour support is found at 75750. If it does not fall below and stabilize, it will continue to move in the third wave. Pay close attention!
From the daily line of ETH: the trend is clearer than that of the big cake. It is strongly bullish after breaking through the wedge range. The post also clearly reminds us to focus on the upper pressure position of 3280. The recent high-level consolidation of the big cake does not rule out the possibility of ether sneaking up. Observe that all technical indicators are bullish upward. The short-term indicator divergence does not affect the rising process. Just find the key position to short.
BTC Saturday strategy: 75550-75850 to do more, the target is around 76700!
ETH Saturday strategy: 3005-3015 to do more, the target is around 3080!
