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"Bitcoin and Ethereum Midday Market Analysis and Trading Strategy"
In the ever-changing tides of the cryptocurrency market, yesterday's (November 24) market movements were thrilling, laying the groundwork for today's trading strategies. Let us delve into the current situation of Bitcoin and Ethereum to accurately grasp the midday trading ideas.
1. Bitcoin: Returning to a Strong Range After Fluctuations
Looking back at yesterday's Bitcoin market, there was significant volatility. At the time of the midday strategy suggesting long positions at 9.75/9.68, the market unexpectedly began a corrective trend, dropping over 1000 points, causing many investors to sweat. However, its resilience was evident as it quickly regained lost ground, currently short-term back around the $98,000 mark, once again showcasing the strength of the bulls.
From the daily chart perspective, yesterday's closing was noteworthy. Although there was a small lower shadow piercing the daily MA5 moving average, it ultimately closed with a red candle. This subtle performance carries deep meaning, indicating that despite encountering stagnation in the short term, the buying power willing to go long remains strong, like a solid support force surging beneath, preventing prices from falling into deep retracement. The key focus for the day is on the daily MA5 moving average, which acts like a "Maginot Line," with its loss or gain affecting the short-term direction; at the same time, if the market provides an opportunity to retrace to the MA10 moving average, it would undoubtedly be an excellent time for bulls to add positions, making it worthwhile to go long boldly and embrace the potential upward trend.
Switching to the 4-hour cycle, after yesterday's market retraced to the MA30 moving average and then broke through before strongly reclaiming, it has now re-established itself above all moving averages, reaffirming the bullish pattern. The short-term support level to watch is the 4-hour MA5/10/30 moving average confluence zone, specifically the critical price range of 9.72 - 9.75. As long as this area is held firmly, a one-sided bullish trend is likely to continue; conversely, if it fails to hold, the market will likely retrace to the daily MA10 moving average around the $95,000 mark, at which point market sentiment and trading strategies will need to be adjusted accordingly.
**Based on the above comprehensive analysis, for midday trading, it is recommended to lightly position long near ** 9.73, and if the market retraces to ** 9.65, decisively add to long positions, targeting above ** $98,000. Given that there are currently no clear short-term signals indicating a peak, short-selling strategies are not to be considered; investors should patiently wait for retracement opportunities, going long in line with the trend and riding the bullish wave.**
2. Ethereum: Seeking Long Opportunities Amidst Bull-Bear Stalemate
The daily chart of Ethereum has shown a somewhat tangled trend in recent days, closing with doji candles with upper and lower shadows for several consecutive days, resembling a fierce battle between bulls and bears around the 3400 mark, resulting in a stalemate. However, from the moving average system perspective, the price has not lost the daily MA5/10 moving averages, indicating that the bullish defense line still exists, so the current stage should still focus on a long strategy during retracements.
In terms of support levels, pay close attention to the 3300 mark, which is the bottom line for bulls. If it can stabilize here, subsequent rebound momentum can be expected; the resistance level is set at 3430, and breaking through this point is likely to open up new upward space, expanding the bullish territory.
**For midday trading, it is recommended that investors enter long positions lightly around ** 3350, and if the market retraces to ** 3300, decisively add to long positions, targeting the ** 3400/3450 area to seize the opportunity for profit amidst the divergence between bulls and bears.**
The cryptocurrency market is always full of uncertainties and opportunities. Past trends provide references for current decisions but cannot fully define the future. When operating based on the above strategies, investors need to closely monitor real-time market dynamics, flexibly adjust positions and strategies, and manage risks reasonably to achieve ideal returns in this digital asset game.
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 primarily characterized by fluctuations, accompanied by intermittent spikes, so when making trades, everyone must remember to control take-profit and stop-loss levels well. 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, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile locking strategies around high and low support and resistance short-term wave highs and lows, medium to long-term trend trades, daily extreme retracements, weekly K-top predictions, and monthly head predictions.
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