November 20th afternoon BTC/ETH market analysis and trading strategy
From the daily chart perspective, the recent price has shown signs of rebound after a significant decline, but the overall trend is still in a consolidation phase. In particular, the long lower shadow formed on November 19 indicates that there is some buying support at lower levels, and the market has not completely given up on bullish sentiment. On the hourly chart, the price fluctuation is relatively small, with prices oscillating around 92200.
The hourly MACD histogram is gradually shortening, and the fast and slow lines show an upward trend, indicating that bearish strength is weakening and bulls may be accumulating energy. However, the daily MACD is still below the zero line, and the overall trend is weak, with the market still in a relatively weak adjustment phase.
The hourly EMA7 and EMA30 moving averages have formed a golden cross, indicating that the bulls are dominant in the short term, showing strong momentum for a short-term rebound. However, the EMA120 is still above the current price, indicating that long-term pressure remains, and the resistance level has not been fully broken. From the daily level, the EMA7 and EMA30 are gradually converging, indicating that the short-term trend is stabilizing, but the EMA120 is far from the current price, suggesting that the medium to long-term trend still leans weak.
Bitcoin: 92200-91500 long, target: 93000-94500
Ethereum: 3030-3000+, Target: 3100-3160#比特币行情观察 $BTC $ETH