November 20th Old Leek Says Coin

Market Review and Analysis

Bitcoin reached a new high today, while Ethereum hasn't broken the 3220 mark. The altcoin market has yet to show signs of recovery. Currently, the Ethereum market is quite weak, and altcoins are still experiencing declines. Recently, the altcoin market has been hovering around without significant gains or losses, making it a bit frustrating. As I always say, watch while you walk, hold a small position and wait for the market. At this stage, I do not recommend full position trading; it is advisable to keep the position within 5 layers, allowing for both offensive and defensive strategies.

Today's Highlights

The BTC market has reached a new high again, but it did not surge into the 96-98 range today, only nearing the 94000 level. There's not much to say about Bitcoin; whether it reaches 96-98 isn't crucial. It's not realistic for me to be overly bullish on Bitcoin. However, in this round of market trends, it is essential to pay attention to Bitcoin. The focus remains on the trends of Ethereum and altcoins. Most people are holding altcoins, waiting to break even. The recent transition in positions has been quite successful. The cryptocurrencies held recently haven't yielded much profit, but there haven't been significant losses either, with fluctuations not being very large. Let's observe before making further decisions.

Ethereum's market has been consolidating at the 3220 level without breaking it. I mentioned earlier that Bitcoin reached a new high, but Ethereum is unlikely to break its position. The weakness of Ethereum is dragging down the performance of altcoins. Therefore, the support zone of 3000-3060 needs to be closely monitored; it's quite important. The resistance level above needs to break the 3220 line to push towards the 3400 range and drive altcoins for a wave of market movement. Regardless of whether altcoins reach their target points, it's advisable to begin gradually entering a light position or maintaining a cash position.