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Bitcoin and Ethereum Market Midday Analysis and Trading Strategy (November 26, 2024)
1. Market Overview
Yesterday, the cryptocurrency market experienced significant volatility, with both Bitcoin and Ethereum showing a pullback trend, but quickly recovering, demonstrating the resilience of the market bulls. In the current market environment, investors need to closely monitor key technical indicators and support levels to formulate reasonable trading strategies.
2. Bitcoin (BTC) Market Analysis and Trading Strategy
Market Analysis:
Yesterday, Bitcoin's daily chart closed with a large bearish candlestick, breaking below the daily MA10 moving average, with insufficient market buying pressure leading to weakened upward momentum.
From the 4-hour chart, Bitcoin's price is under short-term pressure from the mid-band, and the Bollinger Bands are in a flattening phase, with the overall direction still bullish.
The 1-hour chart shows that after Bitcoin's price retraced and broke below the mid-band, it rebounded with a shadow, closing near 97300, which can be considered a low point in the fluctuation range.
Trading Strategy:
For midday trading, it is recommended to short lightly around 9.6. If it rebounds to 9.68, increase the short position, targeting 9.3-9.2.
In the 8.88-9k range, consider going long as a short-term buying opportunity after a pullback.
3. Ethereum (ETH) Market Analysis and Trading Strategy
Market Analysis:
The daily chart for Ethereum shows a long upper shadow red candlestick, with the price not breaking below the daily MA5 moving average. However, selling pressure above and market uncertainty regarding short-term bullish and bearish trends have led to divergence above 3500.
On the 4-hour chart, pay attention to the MA30 moving average; as long as it holds, it can be used to support short-term long positions.
Trading Strategy:
For midday trading, it is recommended to go long lightly around 3380, targeting 5-80 points.
Short positions can follow Bitcoin's movements, with targets being small.
4. Summary and Risk Warning
The cryptocurrency market is full of uncertainties and opportunities. Past trends provide references for current decisions but cannot fully define the future. Investors should closely monitor real-time market dynamics when implementing the above strategies, flexibly adjust positions and strategies, and manage risks reasonably to achieve ideal returns in this digital asset game. The analysis and strategies provided in this article are for reference only; investing carries risks, and one must be cautious when entering the market.
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. It mainly focuses on spot trading, contracts, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile lock-up strategies around high and low support and resistance short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
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