Review of the cryptocurrency market on November 18

Last week, the financial market fluctuated greatly. The A-share index fell by 112 points, the Nasdaq fell by 613 points, and spot gold recorded its largest weekly decline since June 2021, falling by 4.58%. Bitcoin rose by 13.27% (up 10,573 points), and Ethereum fell by 3.84% (down 123 points).

Technical analysis

Bitcoin:

Weekly: Closed with a real big positive line, maintaining an upward trend.

Daily: High-level oscillation, repairing technical gaps, MA7 daily moving average support is obvious, and it is arranged in a long position.

4-hour line: High-level box oscillation, there is pressure on the upper 91,850 line, and the lower support is at 88,000, and the important defense line is near 87,000 points. Intraday operations focus on the upper 91,500-92,500 pressure to be bearish, and the lower 88,800-87,800 support to rebound.

Ethereum:

Weekly: Following the big positive line last week, it fell back last week and closed with a long upper shadow negative line, and needs to be adjusted to repair the technical gap.

Daily: Broke below the MA7 daily average, and 3000 points became an important support level.

4-hour line: Oscillating downward small cycle bearish trend, intraday operations focus on the upper 3170-3210 pressure, and the lower 3050-3010 support.

Analysis of altcoins

Weak altcoins returned to the starting point, and strong altcoins fluctuated at a high level. It is recommended to wait and see the buying point, focusing on the trend of active sectors such as meme, games, and inscriptions.

Special reminder: The market is volatile, and you need to be cautious when entering the market. The content is personal opinion, not investment advice, and is only for sharing and communication. #BTC00929

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