Market analysis on November 21: Bitcoin continues to rise, approaching 100,000. In the short term, we expect Ethereum to catch up with a wave of gains.

CN
9 hours ago

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Bitcoin has been continuously rising in the past few days. Although the daily increase is not large and the pace is slow, it keeps reaching new highs, with the current high point being less than 2% away from the 100,000 mark. The overall trend still aligns with my personal expectations. Many people have been bearish on the market these days, and a larger correction is certainly expected later, but in the short term, it should still lean towards a high-level oscillation pattern. Therefore, I do not recommend shorting at this time, as many people's short positions are trapped and facing liquidation, indicating that the timing for shorting was not well chosen.

Ethereum has started to surge, and I expect it to catch up to around 3,700 or higher. As we mentioned yesterday, strength and weakness can switch at any time; what you perceive as weakness may not remain weak indefinitely.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes, and this should only be taken as a reference.

1H:

On the 1-hour level, Bitcoin is still in an upward movement of a 1-hour central departure segment. This 1-hour upward movement is expected to continue, but it still needs a 15-minute level correction and a 15-minute level upward movement. After this 1-hour upward movement is completed, there will be a 1-hour level correction. As long as it does not drop below 91,800, there will be another 1-hour upward movement to continue reaching new highs.

The 100,000 mark is just a large round number and cannot be considered a particularly significant resistance level. It can only be said that large round numbers generally represent a psychological pressure point for many. Therefore, after breaking through 100,000, it is uncertain how much further it can go up, but based on the current trend, a phase correction should not be too far off; it just hasn't dropped directly yet.

15M:

On the 15-minute level, we can see that the upward movement of the 15-minute central departure segment is not diverging, so in the short term, there should be a 15-minute level correction tonight, with a focus on around 96,000. After that, there should be another 15-minute level rebound, with the upper target continuing to look at 100,000.

ETH

Ethereum has finally achieved the expected upward movement. On the 1-hour level, it has consolidated a central point and is currently in the upward movement of the central departure segment, with the first target around 3,500 and the second target around 3,700.

On the 15-minute level, it is currently the first upward movement at the 15-minute level, followed by a second 15-minute level correction and a third 15-minute level upward movement. Hold onto your long positions at the lower levels.

Trend Direction

Weekly Level: Direction is upward, currently in a new upward movement at the weekly level, with an overall target looking at 100,000+.

Daily Level: Direction is upward, with the daily level upward movement first looking to see if it can break through 100,000.

4-Hour Level: Direction is upward, with a focus on the 100,000 to 110,000 range.

1-Hour Level: Direction is upward, with the short-term central departure segment's 1-hour upward movement not yet finished, and it should continue to test 100,000.

15-Minute Level: Direction is upward, and there should be a 15-minute level correction, after which it will continue to look bullish.

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

The article is time-sensitive, please be aware of the risks. The views expressed are personal suggestions and for reference only!

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