11.25 BTC, ETH Evening Analysis: Following After Pullback Resistance
Multiple reminders that the large pancake of 100,000 needs caution to take profit, as the daily chart shows a clear bearish divergence, once the market turns bearish it will directly blow up the bulls, how about that? The predictions were very accurate, post is below. Last Friday, the main direction for the large pancake was to go short, and the downward target of around 95,700 was also very precise, this operation basically continued over the weekend, and it was uniformly reminded that this is a key position for going long at the resistance above the trend line. If the upper high point of 98,800 does not break pressure, it means that a new bullish trend has not yet formed, and we need to be wary of the market turning bearish. This week, we will temporarily operate further within the range of fluctuations, just follow the low absorption!
From the 4-hour chart of BTC: This wave of decline is just within the trend line, and the lowest point of the trend line is at 92,500, which is a key point for turning from bullish to bearish. If it does not break, it is still within the range for going long after the pullback, as the downward trend line has not yet formed. From the chart below, we can see that the lowest point of the trend line coincides with the resistance line around 95,000, while the trend line resistance above is at 98,800. Therefore, go long near the lowest point of the trend line, and if it breaks down, watch the daily chart's support at the lowest point of 92,500. So, before a new trend is formed, just follow the trend line to operate.
BTC Evening Strategy: Go long at 95,000-95,500, target around 98,800!
ETH Evening Strategy: Go long at 3,405-3,420, target around 3,500!
