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Cryptocurrency Analysis and Trading Suggestions for November 18

From a weekly perspective, Bitcoin shows a strong upward trend with three consecutive bullish candles, and its price began to pull back after reaching a high near 93362. Last week, the bullish momentum was extremely strong, resulting in an overall closing price in the overbought area of the weekly Bollinger Bands. Based on technical considerations, it is highly likely that there will be a pullback towards the Bollinger Bands range, with the pullback target price expected to be around 86000, and it may even dip to 82000. However, the only uncertainty at the moment is whether the price will rebound first and then decline, or directly enter a downward channel.

Switching to the daily level, we can see a small doji candle at the close, with the price settling around 90500. This pattern indicates a stagnation signal for the day. Meanwhile, the bullish trend moving averages above have begun to show a downward trend. Judging from the current market information, the bullish momentum has clearly weakened, and there have been consecutive upward spikes. Therefore, it is difficult to achieve a stable position and further increase during the day; even if there is an upward trend, it is likely just a false breakout. In summary, the overall trend this week shows signs of a peak, while the daily trend is dominated by bearish sentiment. Thus, the trading strategy should focus on short positions.

Focusing on Ethereum, from a weekly perspective, the weekly chart shows a bearish candle with a long upper shadow. After reaching the upper Bollinger Band at 3448, it quickly fell sharply, indicating that the overall bullish trend is nearly exhausted, and breaking through previous highs within this week seems unlikely. Analyzing the short-term daily trend, the daily chart closed with a bearish candle, and the 5-10 day moving averages have formed a death cross around 3130 and continue to run. This situation suggests a high probability of continued downward movement in the market. Furthermore, the overall opening index of the Bollinger Bands meets the criteria for a pullback, and the entire market is in urgent need of repair and consolidation; a pullback is a necessary phase that must be experienced technically.

In summary, the bearish pullback trend of Ethereum is becoming increasingly significant, and it is likely to take action first, possibly showing a trend of stabilizing in the near term before seeking opportunities to complete the pullback.

Bitcoin Trading Suggestions: You can enter light short positions in the range of 92300 to 92900, setting the stop-loss at 93200, with profit targets looking towards the 90500 to 89500 area.

Ethereum Trading Suggestions: Enter light short positions around 3140 to 3180, with a stop-loss set at 3210, targeting a drop to the range of 3090 to 3030.

Coin friends can enter the market in advance, but be sure to leave room for additional purchases, and after adding to positions, keep the average holding prices for Bitcoin and Ethereum around 92600 and 3160, respectively. It is also crucial to control the position size and manage investment risks reasonably.

This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. Recently, the market has been mainly fluctuating, accompanied by intermittent spikes, so when placing trades, remember to control your take-profit and stop-loss levels. In the future, when facing significant market data, the Coin Victory Group will also organize live broadcasts across the internet. Friends who wish to watch can find the Coin Victory Group online and contact me for the link.

Mainly focused on spot and contract trading for BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles such as mobile locking strategies around high and low support and resistance for short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.

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