Market analysis on November 18

Market review

The financial market fluctuated significantly last week, with the Big A Index falling 112 points, the Nasdaq falling 613 points, and spot gold recording its largest weekly decline since June 2021, 4.58%. However, Bitcoin bucked the trend, rising by 13.27% (up 10,573 points), while Ethereum fell by 3.84% (down 123 points).

Technical analysis

BTC

Weekly line: The physical big positive line has been closed again, maintaining the upward trend. The bulls are strong, which is conducive to the subsequent market development.

Daily line: It is oscillating at a high level, the technical gap has been repaired, the MA7 daily moving average has obvious support, the K line slowly rises along the moving average, in a bullish arrangement, with stability and upside potential.

4-hour line: The box is oscillating at a high level, and the 91850 line is under great pressure. It has surged higher and fallen back many times. The lower support is concentrated at the 88000 line, and the vicinity of 87000 is an important line of defense. In terms of intraday operations, the focus is on bearish pressure at 91500-92500, and rebound at the support level of 88800-87800.

ETH

Weekly line: After closing the big positive line last week, it surged higher and fell back to close the long upper shadow line and the negative line last week, destroying the normal trajectory of the technical side. Adjustments are needed to repair the gaps, and the subsequent trend is uncertain.

Daily line: After falling below the MA7 daily moving average, an important support level is formed near 3000 points. If it falls below, it may trigger further downside risks.

4-hour line: It shows a small-cycle short trend with downward shock, and short positions dominate in the short term. During the day operation, you need to focus on the pressure of 3170-3210 and the support of 3050-3010 to seize the opportunity.

Overall, the performance of various financial market varieties varied significantly last week. Although Bitcoin is on an overall upward trend, the technical situation in different cycles shows that it faces certain pressures and support ranges, and operations need to be cautious in grasping key points. Due to changes in the early trend of Ethereum, the current technical situation requires repair and adjustment, and the subsequent trend is unclear. Investors must be careful whether they are long or short.

The current market situation is complex and ever-changing. When making decisions, investors should not only look at past rises and falls and simple technical aspects, but also comprehensively consider market news, macroeconomic environment and other factors. During the differentiation stage of the trends of various varieties, it is necessary to analyze calmly and do not blindly follow the trend to prevent losses. In addition, in view of the uncertainty of the market, it is crucial to control positions and set stop losses and profits to cope with sudden changes and ensure investment safety.#BTC00929

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