18 November 2024

Following the hot spots of the digital currency market in real-time, taking advantage of the best trading opportunities. Today is Monday, November 18, 2024. Good morning, friends in the coin world ☀ Hardcore fans check-in 👍, support for great success 🍗🍗🌹🌹
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The current market panic index continues to rise, in conditions of extreme fear and greed. Liquidated frequently, with a total liquidation value of up to 298 million US dollars in the last 24 hours, where long orders reached 193 million US dollars, especially long orders that became the main target, during the adjustment period in the midst of a bull run in the market, the only thing we can do is to be patient, reduce focus on technical analysis, and understand the latest information, because recent fluctuations are quite large, don't be too aggressive in transactions, and don't get carried away, stay calm! The current price movements reflect the complex interaction between long-term holder strategies and market sentiment, the current market dynamics show a level of increasing Bitcoin investor maturity, which may affect future crypto currency trends.
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Yesterday, BTC experienced a second pressure around 92000, although it was not heavily affected by longs due to the weekend's influence. However, until now, it is still debated because this is a historical moment for BTC. BTC returned to the lowest level of the week at 78473 and reached the highest level of the week at 93265. Currently, it is still at a high level and vibrating, with no significant pullback yet. The daily candlestick indicator shows the need for adjustment, and there may be a local decline in the short term. The current defense point is the previous highest level, and in the short term, trying to take a short position to observe the pullback. Also, pay attention to the rising trendline around the support level of 88000, whether it will stabilize or break the support level. Currently, the short term is in the process of pullback or adjustment. In short-term operations, combine hourly chart patterns to determine the high zone for short and low zone for long, keeping in mind the vibrating pattern and change the strategy if there is a violation. From the four-hour chart, yesterday was accompanied by repeated ups and downs, but the increase at the end of the session still remained within the range of vibration. Currently, the pressure above remains strong, and today it still follows the highest level of 92000. If it fails to break through strongly, there is still a reason to operate short at the high level. In the short term, the support level is around 88000, maintain the support level during the pullback to continue operating long. In a market with large fluctuations, be flexible in responding to patterns. Initially, short-term strategies are faced with vibrating patterns, continue to participate in high-short-low-long patterns to avoid repeated difficulties!
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ETH reached its lowest point yesterday and rebounded around the 3032 level before starting another rebound. The high reached 3160 but then dropped again and is currently around 3080. Yesterday's daily candlestick chart was unable to continue the rebound above the trend line. The daily closing was a neutral candlestick, forming a bearish engulfing candlestick pattern. The moving average indicators have also not formed clear long signals, and the candlestick closing is not too optimistic, so the continuity of the short-term long position is still a problem. There may be volatile movements. Looking at the 4-hour chart, after rising impulsively, the price quickly fell back, using the typical Whipsaw tactic. It appears strong but cannot hold, appears weak but recovers. Whipsaw in these repeated movements does not indicate a strong direction. Although ETH is in a rebound phase, the daily candlestick chart does not show a one-way trend. Short-term movements strengthen volatility, with consecutive declines in daily candlesticks and 4-hour charts, indicating a tendency for further declines. The low point of the second wave may be tested again. Pay attention to the lowest level of this week at the beginning of the session. If it directly breaks through, then the short-term decline will continue. Switching between long and short positions, one must be flexible in facing price patterns. In addition to direction, level is also a key factor in this volatile movement.