Market analysis on November 17: Bitcoin is showing a short-term sideways movement at the 1-hour level. Patience is required to wait for the adjustment structure to complete.

CN
1 month ago

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The short-term trend for Bitcoin here has not effectively reached a high point, and the pullback strength is not very strong. Therefore, I currently lean towards a consolidation of a 1-hour central range, followed by a surge to test the 94000~100000 range, and then a 4-hour pullback will begin. So, the altcoins that haven't started moving in the short term will see a catch-up, such as XLM, XRP, etc., and ADA has already started to catch up. Coins that have already risen recently will continue to adjust in the short term.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market changes at the moment of publication. Short-term players should pay attention to the latest market changes, and this is merely for reference.

1H:

At the 1-hour level, the probability of consolidating a 1-hour central range here is quite high. Of course, the difficulty of short-term operations will also be relatively greater. Currently, we first look to see if the short-term can push towards around 92000, then wait for the next 1-hour pullback to come out before participating in long positions again, with the next target being whether it can retest around 86000. The temporary structure tends to consolidate a 1-hour central range before pushing up again towards around 94000~95000, completing the 4-hour upward movement.

15M:

At the 15-minute level, let's see if there is a rebound to around 92000. If it cannot quickly break through 93000, it is likely to undergo a 1-hour pullback, retesting around 86000.

ETH

For Ethereum, breaking through 3400 directly at the 1-hour level should be somewhat difficult. I expect it will consolidate a 1-hour central range before pushing towards 3500. In the short term, at the 15-minute level, let's see if it can revisit the 3250~3300 range. After that, there should be a 1-hour pullback to around 3000, followed by another push to complete the 4-hour upward movement.

Trend Direction

Weekly Level: The direction is upward, currently moving towards a new weekly upward trend, with an overall target looking at over 100,000.

Daily Level: The direction is upward, with the daily upward trend first looking to see if it can break through 100,000.

4-Hour Level: The direction is upward, with attention on 95000 above.

1-Hour Level: Consolidation, with a short-term bias towards consolidating a 1-hour central range, expecting another retest around 86000 before pushing up again.

15-Minute Level: The direction is upward, observing the strength of the 15-minute level rebound here.

Feel free to follow my public account for discussion and exchange:

The article is time-sensitive, please pay attention to risks. The views in the article are personal suggestions and for reference only!

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