Zhou Yanling: On November 26, Bitcoin suddenly plummeted. Is the bull market over or are we building a bottom again? The deep V of Ethereum is still experiencing significant volatility ahead.
If you are a new investor in the recent Bitcoin market, it is only suitable for short-term trading and not recommended for long-term holding, especially do not chase any accelerated market movements, nor seek trading resistance at the first moment during acceleration, as volatility has already begun to increase. If you observe the market movements in recent days, you will understand that after each quick pullback, the price rebounds to the previous high and then begins to fall again, repeatedly eroding market sentiment. It is definitely impossible for Bitcoin to break through the 100,000 mark in one go. As it approaches 100,000, it will inevitably face resistance and pull back, and this cycle will require some time. Currently, we are in this process, so everyone needs some patience. On Monday, the European and American markets experienced a significant pullback, with a pullback space of over 4000 points, which should not be underestimated. This waterfall broke the previous support of 95500, so in the short term, everyone needs to focus on the upper level of 97200 as a key turning point. If the short-term rebound cannot break through here and stabilize, short-term bearish movements will strike again. In terms of operations, one can go with the trend and continue to catch short positions at high levels while holding off on long positions for now.
Ethereum has also experienced significant fluctuations over the past few days and has become lively. Last night's deep V trend made people excited. On November 23, it also had a long bullish candle, breaking through the previous high of around 3498, but subsequently failed to sustain the upward momentum. Last night's strong rebound in this deep V is also expected to face resistance and come down again, so those who want to chase long positions should not rush. It’s better to wait for a pullback opportunity to continue entering; currently, both the DIF and DEA are positive, and the MACD histogram has turned from negative to positive, indicating signs of strengthening bullish momentum; the RSI14 is close to the overbought area, currently at 64.27, indicating short-term pullback pressure. The competition between bulls and bears in Ethereum is intense, and the overall trading volume has shown an increasing trend recently, especially when the price rises accompanied by significant trading volume, so everyone needs to be cautious about the risks of chasing highs.
November 26 Bitcoin trading strategy:
1. Sell at 97000-96500, stop loss above 97500, target 95500-94900, continue to look for a downturn near 93700.
2. Buy at 94000-94600, reserve space for additional purchases around 93400, stop loss below 93100, target 95500-96100.
November 26 Ethereum trading strategy:
1. Sell at 3535-3500, stop loss above 3575, target 3420-3380, continue to look for a breakdown near 3310.
2. Buy at 3360-3400, reserve space for additional purchases around 3310, stop loss below 3280, target 3470-3510.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article may have delays in review and publication, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
The content of this article is an exclusive original sharing by senior analyst Zhou Yanling (public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contracts/spot operations. For more real-time community guidance, liquidation consultation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
