Market Analysis on 2024.11.11

Bitcoin Weekly

Resistance around 85000

Support around 74500

Bitcoin Daily

Resistance around 81500

Support around 77600

Last week, after the U.S. election where Trump was elected president, Bitcoin experienced a significant surge, strongly breaking through the previous high of 73777, reaching a new high near 81500. Last week, Bitcoin rose by 21%, and this week may see a correction. The weekly resistance level is set around 85000, with support around 74500. Many people are waiting to enter the market, hoping to get an opportunity. The daily resistance is at the high point of 81500 yesterday; this position should not be chased for a high entry, but rather wait for a pullback to go long. The first support level is around 78000. The trading strategy is to buy low. If there are short positions with profits, be sure to take profits. The bull market has arrived; minimize shorting and trade in the direction of the trend. It is recommended to only take trend trades, and I wish everyone a successful start to Monday [Fist Bump][Fist Bump][Fist Bump]

Ethereum Weekly

Resistance around 3400

Support around 2850

Ethereum Daily

Resistance around 3250

Support around 3050

Ethereum was even more dramatic last week, directly surging by 36%. Either there is no rebound or there is a significant rebound. Ethereum truly deserves to be the leader of altcoins. The MACD at the weekly level has formed a golden cross, which we have long awaited, and the EMA has also strongly broken through the lifeline near 2820. The weekly resistance level is set around 3400, with support around 2850. I hope to see a retest near the lifeline at 2850. Each pullback in Ethereum is an opportunity to go long. Ethereum has been very strong recently; minimize shorting. The daily level has not retested the 5-day line for 4 consecutive days; hopefully, today it can retest around 3050. The trading strategy is to buy low. If it can truly pull back to the weekly lifeline at 2850, one can boldly go long, but do not go all in. Always consider the risks first, manage your position well, and if there are profits on short positions, be sure to take profits quickly. I wish everyone a successful start to Monday [Fist Bump][Fist Bump][Fist Bump]

The above information is for reference only and does not constitute investment advice.