Eternal Fire November 17 data analysis and short-term market forecast summary

Market sentiment analysis hanfeng16890

• Today's data: The cryptocurrency panic and greed index reported 90, and the market sentiment continued to rise, maintaining extreme greed for a week, which was the same as the highest point on March 5 this year.

• Indicator interpretation: Market sentiment is an important indicator for bottom-fishing and top-fleeing. Consider bottom-fishing when the market is extremely fearful (emotion value within 20); consider top-fleeing when the market is extremely greedy (emotion value 90).

Market analysis

• BTC market: sideways at high levels, altcoins make up for the rise.

• Capital inflow: Bitcoin high-level profit funds flow into the altcoin market.

• Outstanding performance: sol and SOL chain ecology (BONK, RAY rose by more than 20%), bankrupt coins (LUNA, LUNC make up for the rise).

• Daily trend: Bitcoin consolidated at a high level, and no obvious peak signal was seen. The bottom support level is 85,000 points, and the top pressure level is 93,000 points. The price diverges from the trading volume, and the high position is low.

• Market limit: The market limit is expected to be in the range of 98,000-100,000, or it may not be reached.

Fundamental analysis

• Good news realization: The good news brought by Trump's deal has been fully realized, and the Bitcoin ETF bulls are weak, with net outflows on Thursday and Friday.

• Market trends: There is no obvious market-smashing behavior in the currency circle and the main ETF, and the market is sideways at a high level. The fundamentals appear bad or the trend shows a rapid decline in the big negative line, which is easy to cause market panic.

• Trading strategy: Rational traders are unlikely to enter the market at the current price, and are more likely to choose to enter the market after the market retreats.

Operation suggestions

• BTC space is limited: 93,000 and 95,000 are important pressure levels.

• Escape the top of the altcoin: Refer to the BTC price, take profits in batches at 93,000 and 95,000, and keep the bottom position to prevent missing out.