【11.17 Market Analysis: Weekly Crisis, Prelude to a Mini Bear Market】

Last week's weekly close has occurred, and after 2 years and 8 months, BTC has finally broken below the MA50 moving average, and it was a large bearish candle that broke the level directly. It can be said that on a weekly level, there is already a prelude to a mini bear market. According to the movement of the moving averages, this may lead BTC towards the weekly MA120, which means that BTC starting with 80,000 is very likely to be seen this year.

$BTC Today's short-term resistance zone for BTC is between 97100-97300. After breaking above, the resistance is at 98450. As long as these two levels are not broken, the market will not be very strong. The short-term support below is at 92300, and if it breaks below, we can look at the daily level support between 8.6-8.7.

$SOL Today's dividing line for long and short positions for SOL is at 149. If it can rise again, the resistance will be at 158.

The two daily level supports below are 129 and 113. If any friends are stuck in spot positions, you can refer to these two levels to lower the average price. In fact, the spot for SOL has been telling you to clear your positions since the end of October, and the market has provided a few opportunities to lure in buyers, but not many people took the chance, so now it's just wasting time waiting to break even.

$ETH Today's dividing line for long and short positions for ETH is at the resistance of 3330, with the daily level support below at the positions of 2848-2822. ETH will definitely waterfall faster than BTC and SOL, so positions should be lighter; the probability of ETH starting with 2 is currently very high.

In summary, the weekly chart has basically declared a death sentence for the entire market. Unless there are miracles this week, the remaining time this year can be expected to see BTC starting with 8.

Important resistance levels can still be participated in for speculation. Although the fear index in the short term has decreased, it is not at the lowest point, after all, it hasn't even reached single digits yet.

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