11.19 BTC/ETH after high-level consolidation, will it rise significantly or fall significantly?

CN
2 days ago

Today's BTC Analysis:

  • After reaching a high of 93,300, Bitcoin has been consolidating at high levels for nearly a week. The trend has not changed; each decline is quickly followed by a recovery, with the lows consistently rising and the highs being elevated, making a breakthrough to new highs imminent.

  • Before the high is broken and stabilized, it is not advisable to chase the price at high levels. In the case of insufficient trading volume and momentum, a rapid pullback can easily occur.

For Bitcoin, it is recommended to look for bullish opportunities on the first pullback to the 90,200-90,000 range, targeting 91,500-92,000;

The short strategy will be adjusted based on market changes, so stay tuned!

  • ETH Analysis:

  • Ethereum has been showing an alternating pattern of bullish and bearish movements in recent days, with a key support level at 3,020. This area has been tested more than seven times, proving its significance as strong support. Attention should be paid to this level moving forward; another test here is likely to break it, which would accelerate the decline.

  • The upper resistance is clearly at the 3,220 level, where it has faced multiple pullbacks. Overall, we still need to observe Bitcoin's momentum, as the situation remains one of high-level fluctuations. On the first pullback, look for bullish opportunities in the 3,100-3,080 range, targeting 3,190-3,220;

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