Zhou Yanling: Can Bitcoin End with a Big Bullish Candle on November 29? Stay Alert for Ethereum's High-Level Consolidation
What exactly does the Federal Reserve want to do? It has nothing to do with the current coin prices, because at least the expectations that should have been speculated on this year have already been speculated, and the interest rate cuts have already been laid out. The significant ups and downs over the past month are clearly the work of the main players; even the dollar remains unaffected. How could it be because of the Federal Reserve? Therefore, we should now return to analyzing Bitcoin itself and not look at those external factors. The more fluctuations there are, the more complex the structure and patterns become. However, there is no need to feel troubled by complexity, because the more complex it is, the simpler trading becomes for technical analysts.
From the market trend, the coin price is once again starting to build a bottom, which is a triangle. Any market movement within this is ineffective; it does not belong to an uptrend or downtrend, but is merely a bottom-building process and fluctuation. However, once the price stabilizes around 93,000 later on, that will signal the arrival of the next real upward trend. It doesn't matter how large or fierce the increase is; the judgment standard for the market is not based on this but on the cycle. Continuous fluctuations are also considered an upward trend. Therefore, for recent trading, short-term trades are acceptable, which is a point that Yanling has been emphasizing recently: fluctuating upwards, pulling back down, but not being able to drop significantly. So, don't be anxious; it proves that it is not a real and effective breakout trend yet. Therefore, do what needs to be done now, don't be greedy, and trading back and forth in short positions is currently the most stable trading rhythm.
November 29 Bitcoin Trading Strategy:
Buy at 94,500-95,000, stop loss below 94,000, target 96,500-97,000, continue to look for a breakout towards around 98,500.
Short at 97,000-96,500, stop loss above 97,500, target around 94,500, continue to look for a breakdown towards around 93,200.
November 29 Ethereum Trading Strategy:
Short at 3,640-3,600, stop loss above 3,680, target around 3,540-3,500, continue to look for a breakdown towards around 3,440.
If it doesn't break 3,500, go long; buy at 3,500-3,530, stop loss below 3,460, target 3,600-3,640, continue to look for an upward move towards around 3,720.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on breaking even, learning market analysis skills, etc., you can follow the teacher's public account: Zhou Yanling to find the teacher.
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