November 21 Market View
The market is a bit confusing, let's observe for a while.
Bitcoin: New highs and sharp declines are both present, making it difficult to operate in this market. If one must trade, the safest way is to go long at the four-hour lifeline (short-term). Currently, the four-hour lifeline for Bitcoin is at 93100. As long as it hasn't broken the four-hour lifeline, we won't consider going short on Bitcoin for now; the signal strength on the hourly chart is limited. The position of the four-hour lifeline will change during trading hours, so pay attention to information updates.
Ethereum: It has been in a sideways trend for 7 days, oscillating repeatedly in the 3230~3016 range, without any direction.
SOL: Yesterday, during the third dip to the four-hour lifeline at position 234, there was no new low, so we temporarily abandon the short.
Facing the new highs of Bitcoin, this market is not without risks; rather, the timing is not right. One must not be complacent. Regardless of the asset, attention must be paid to the position of the four-hour lifeline. The first retest of the four-hour lifeline will likely bounce back, the second time the probability decreases, and the third time there is a high probability of a new low.
