Analysis of Bitcoin and Ethereum Market on November 15 (Friday)

Yesterday, although the price of Bitcoin rebounded, the subsequent upward momentum was lacking and the price trend has not yet stabilized. After the opening of the morning session today, the price fell and tested the support level of 86,600 points. Although there is a certain downward pressure at present, the pressure is relatively small.

From the observation of the hourly chart, it can be seen that the bullish force is gradually weakening and the price has entered the adjustment stage. In the short cycle, the middle track support level is at 88,600 points. If the price can successfully stabilize at this position after the rebound, then the price has the hope of continuing to climb upward; on the contrary, if it cannot stand firm at this position, the rebound may end and the price will start to pull back. In general, intraday trading can adopt a strategy of buying on dips.

For Bitcoin, you can go long in the range of 86,000-86,500, with a target price between 90,000-93,000.

For Ethereum, it is recommended to go long around 3000-3030, with a target price of 3100-3150.

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