11.26 Morning Analysis and Suggestions
Bitcoin's daily line has broken through MA5 and MA10, and the MACD has also shown a bearish crossover. Therefore, the rebound pressure during the day should focus on the range of 94500-95000. Previously, the Asian and European sessions often saw a V reversal because the daily line has been consistently above the 5 and 10 moving averages for nearly twenty days. Now, there is a clear bearish trend on both the daily line and the 4-hour chart, so it is suggested to short on rebounds during the day!
Suggestions
Short around 94300-94500 for Bitcoin, targeting 92300-91500. If there is a strong breakdown below 91000 today, it could directly hit 89000-88000.
Short around 3460-3480 for Ethereum, targeting 3420-3400.
