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(Bitcoin and Ethereum Midday Market Analysis and Trading Strategy)
In the ever-changing tide of the cryptocurrency market, yesterday's (November 24th) market trend was quite thrilling, laying the groundwork for today's operational layout. Let's delve into the current situation of Bitcoin and Ethereum and accurately grasp the midday operational thinking.
1. Bitcoin: Returning to the Strong Zone After Ups and Downs
Looking back at yesterday's Bitcoin market, the market displayed extreme volatility. When the midday strategy suggested long positions at 9.75/9.68, the market unexpectedly began to retrace, dropping over 1000 points, causing many investors to sweat. However, its resilience was evident as it quickly regained lost ground, and currently, the short-term price has returned to the $98,000 level, once again showcasing the strength of the bulls.
Interpreting from the daily chart perspective, yesterday's closing was quite noteworthy. Although a small lower shadow appeared, piercing the daily MA5 moving average, it ultimately closed with a red K. This subtle performance carries deep meaning, indicating that despite the short-term stagnation, the buying power eager to go long remains strong below, like a solid support force flowing quietly, preventing the price from falling into a deep retracement. The key focus today is on the daily MA5 moving average, which acts like a "Maginot Line"; its gain or loss is crucial for the short-term direction. Meanwhile, if the market can provide an opportunity to retrace to the MA10 moving average, it would undoubtedly be an excellent moment for the bulls to add positions, worth taking a bold long position to embrace the potential upward trend.
Switching to the 4-hour cycle for observation, yesterday's market retraced to the MA30 moving average, then pierced it but strongly regained, and has now re-established itself above all moving averages, reaffirming the bullish pattern. Pay attention to the short-term support area, particularly the confluence of the 4-hour MA5/10/30 moving averages, which is the critical price range of 9.72 - 9.75. As long as this level holds firmly, a unidirectional bullish trend is expected to continue; conversely, if it fails, the market will likely retrace to the daily MA10 moving average corresponding to the $95,000 level, at which point market sentiment and trading strategies need to be adjusted accordingly.
Based on the comprehensive analysis above, for midday operations, it is recommended to lightly position long around 9.73. If the market retraces to 9.65, decisively increase the long position, targeting above $98,000. Given that there are currently no clear short-term signals of a top, short-selling strategies are not considered for now. Investors just need to patiently wait for the pullback opportunity, aligning with the trend to go long and ride the bullish wave.
2. Ethereum: Seeking Long Opportunities Amidst Bull-Bear Stalemate
The recent daily chart of Ethereum shows a somewhat tangled trend, closing with a cross star with upper and lower shadows for several consecutive days, resembling a fierce struggle between the bulls and bears around the 3400 level, stuck in a stalemate. However, from the perspective of the moving average system, the price has not yet lost the daily MA5/10 moving average support, indicating that the bullish defense line still exists. Therefore, the main strategy at this stage should be to focus on buying on pullbacks.
On the support level side, pay special attention to the 3300 line, which is the bottom line defended by the bulls. If it can stabilize here, subsequent rebound momentum is expected; the resistance level is set at 3430, and breaking this point is likely to open up a new round of upward space, expanding the bullish territory.
In line with the midday operations, it is recommended that investors enter long positions lightly around 3350. If the market retraces to 3300 points, decisively increase the long position, targeting the 3400/3450 area to seize the profit opportunity amidst the divergence between bulls and bears.
The cryptocurrency market is always full of uncertainties and opportunities. Past trends provide references for current decisions but cannot fully define the future. Investors, when operating based on the above strategies, need to closely monitor real-time market dynamics, flexibly adjust their positions and strategies, and manage risks reasonably to achieve ideal returns in this game of digital assets.
This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group across the internet. Recently, the market has mainly been characterized by fluctuations, accompanied by intermittent spike-like movements. Therefore, when making trades, remember to control take-profit and stop-loss carefully. In the future, when facing significant market data, the Coin Victory Group will also organize live broadcasts across the internet. Friends who wish to watch can find the Coin Victory Group and contact me for the link.
Mainly targeting spot, contracts, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile locking strategies revolve around high and low support and resistance short-term fluctuations, medium and long-term trend orders, extreme daily pullbacks, weekly K top predictions, and monthly top predictions.
