11.9 Ethereum/Bitcoin Early Morning Market Analysis and Trading Ideas

Today's Bitcoin price has been fluctuating around 76,000, and compared to Ethereum, Bitcoin's rise is relatively weak. The delay in a pullback might be because the market makers are aware of this position, and retail investors have a high sentiment for shorting, so they are deliberately consolidating at this level. Those who hold on until Bitcoin shows a pullback will naturally benefit. Currently, our strategy still emphasizes shorting at high positions; I remain optimistic about Bitcoin adjusting downwards. The potential low for Bitcoin could reach around 73,000-72,000. If the pullback sentiment intensifies, it might spike down to around 71,000. Once the adjustments are completed, Bitcoin will usher in a new wave of upward sentiment, likely around 78,000-82,000.

From the 4-hour technical indicators, both Bitcoin and Ethereum have significant technical gaps with the moving averages. Meanwhile, the upward sentiment on Bitcoin's 5-day moving average shows a notable weakening, and both the KDJ and MACD technical indicators have shown volume contraction. According to the Fibonacci golden ratio, if this surge does not see any adjustments, it would be wise for everyone not to chase after high positions. As for the current price not dropping, it is certainly due to market makers playing tricks; they will not allow retail investors to profit easily. Therefore, the hardness of Bitcoin is likely a “smoke and mirrors” tactic by the market makers. The two potential scenarios are either a bit of consolidation followed by a crash later at night, or a false bullish signal before a significant drop. #美联储利率决议来袭 #BTC $BTC

Bitcoin: Short in the range of 76,200-76,600 Stop Loss: 77,600

Reinforce positions upon a rebound to around 76,900, targeting: 73,300-72,500