The market is bearish, so be cautious in chasing the rise! Analysis of the 11.20 Big Pancake Auntie Market

Donald Trump nominated Brian Armstrong, CEO of Coinbase, as Secretary of the Treasury. This move has attracted widespread attention in the crypto market! Armstrong once said that the next Congress will be friendly to the cryptocurrency industry! He pointed out that more and more candidates for Congress have expressed their support for cryptocurrencies. Yesterday, the U.S. stock market opened low and went high, giving the market some confidence! The spot ETF market had a net inflow of $52.8 million and an outflow of $20.4 million. The midnight pull-up may be due to the rebound of the U.S. stock market driving daily sentiment!

The price of the coin rose again at midnight, which was also in line with yesterday's expectation of being cautious about the bullish force of the coin price! The highest reached 93978, and it fell back from the top in the early morning, and the lowest retreated to the 91355 line. Ethereum is as sluggish as ever. Yesterday, the market rose, and Ethereum only touched the 3147 line at its highest, following the decline but not the rise. The lowest retracement reached 3067! Currently, it is fluctuating slightly around 3100!

From the daily line, the daily line has two consecutive positive lines, and the overall trend is fluctuating upward, with both high and low points moving up. The three tracks of the Bollinger Bands are upward, but the three lines of KDJ are glued at a high level, and a dead cross is initially formed, and the indicator is relatively weak. The MACD double-line high is slightly downward, and the volume continues to shrink! There is a need for a retracement on the daily line! It is hard to say whether it has reached the top yet!

The four-hour Bollinger Bands are slightly open, and the currency price is running between the upper and middle tracks. The three-line dead cross of KDJ diverges downward, and the MACD double lines are basically in a glued state, and the indicator is weak! The four-hour indicator also tends to be short! So be careful of short-term retracements during the day! Pressure levels focus on 92900, 93400 and 94000, support levels focus on 91200, 90300 and 89500

11.20 Bitcoin operation ideas: Aggressive short near 92500 rebound, conservative short 93000-93400, defense above 94000, target near 92000-91200, break hold near 90500

Long order ideas: Aggressive long near 90500, conservative enter near 90000, defense 895 00, the target is around 91500-92000-92500, and the target is around 93000-93500 if it breaks

11.20 Ethereum operation ideas: short at 3150-3180, defend around 3230, target around 3100, and hold at around 3080-3060 if it breaks

Long order ideas: enter the market and go long at 3020-3060, defend below 3000, target around 3100-3150, and hold at around 3080-3220 if it breaks

The suggestions are for reference only, and your profits and losses are at your own risk!