On 24/11/30, BTC's downward trend break failed. Will the 4H head and shoulders bottom retest hold? How long will the high-level volatility last?
Tether Treasury has minted 1 billion USDT on the Ethereum network, bringing the total minted this month to 18 billion USDT.
After reaching a high of 2789, gold fell for two weeks, rebounded, and was then suppressed again. In the short term, there is a possibility of gold price fluctuating and retreating. So, some friends asked whether they could still invest in gold. Personally, I prefer to patiently wait for a good adjustment before getting involved. Since gold broke the historical high in February, it has risen for nearly a year, and chasing the rise comes with the risk of a pullback.
In terms of US stocks, the Dow Jones has reached a new historical high of 45070, the S&P 500 index at 6044, and the Nasdaq is also close to its previous high. Since October 2022, it has been rising, and since November 2023, it has shown a one-sided rise. It truly supports the saying that if you are bullish on A-shares, you should invest in the Nasdaq. The US stock market has shown signs of fatigue after seven consecutive days of gains and is at the end of its strong momentum. The A-shares have shown five consecutive days of decline and are ready to take off, like a star of tomorrow 😂.
Bitcoin
Bitcoin tested the downward trend line again yesterday and was rejected to fall. Looking at the short term, it is still near the previous high, and the monthly line is about to close, so pay attention to the increasing volatility. The daily BOLL is narrowing, facing a change in trend. Both MACD and RSI have shown divergence, and there is a risk of false breakouts. There is an anticipated head and shoulders bottom pattern on the 4-hour chart. After the breakout last night, pay attention to whether the retest can support the rebound. The key Fibonacci level of 0.382 is basically coinciding, so it must not break below the 96500 level.
Overall, the tendency is still to oscillate between 90800 and 98500. The time and space adjustment is not enough, and there will be opportunities to buy in batches if it falls to 83000-90800 later.
Support:
Resistance:
Ethereum
Ethereum's recent performance has been relatively strong overall. Bitcoin leads the rise, and when Bitcoin has a short-term pullback, Ethereum follows the rise. This aligns with our statement that Bitcoin's high-level oscillation and Ethereum as the leading cryptocurrency have opportunities for rebounds.
The daily BOLL is opening, and the previous two engulfing candlestick patterns have been broken. There is a probability of continuing to break through 3684, but there is an expectation of a volatile pullback for Bitcoin. Ethereum can only short-term trade alongside it, and the best mid-term layout opportunity has not yet arrived.
Support:
Resistance:
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