How to Resolve Being Stuck in Long Positions After the Bitcoin Plunge on 11.23? Latest Analysis and Operation Strategy for BTCETH Today
Bitcoin suddenly plummeted yesterday, what should one do if they are stuck in long positions? How should we operate with Bitcoin and Ethereum today? I'll briefly share my thoughts.
The small increase on Friday was mainly driven by two pieces of news: one is that Ukraine and the EU are unwilling to accept the peace proposal put forth by the United States, and the Russia-Ukraine situation has become tense again; the other is that a Federal Reserve official expressed a dovish stance, which significantly raised market expectations for a rate cut in December, leading to a brief surge in cryptocurrency prices.
However, there are differing opinions within the Federal Reserve; some support pausing rate cuts while others believe cuts can be made. Moving forward, we should pay more attention to the international situation and the actions of the Federal Reserve, especially changes in rate cut expectations, as they will have a significant impact on the market.
From a technical perspective, the daily chart still appears weak, having dropped for several days, but there seem to be signs of gradual stabilization in the short term. The hourly level is oscillating around 84600, with a temporary stalemate between bulls and bears. In terms of indicators, the hourly MACD may form a golden cross, but the daily line is still below the zero axis, and the overall trend has not completely turned bullish. The hourly RSI is around 50, not considered overbought or oversold, while the daily RSI is relatively low, indicating that participants remain cautious. In terms of moving averages, the short-term EMA7 provides some support for the price, but EMA30 is pressing from above, making it difficult to rise.
Bitcoin: If it rebounds to around 87500-86500, consider a light short position, with a stop loss above 88500, targeting 83500-82500; if it drops to around 82000-83000, consider trying to go long, with a stop loss set below 81000, targeting 85000-86000.
Ethereum: If it rebounds to around 2870-2820, consider a short position, with a stop loss above 2920, targeting 2700-2650; if it pulls back to around 2650-2700, consider going long, with a stop loss below 2600, targeting 2800-2850. #美国非农数据超预期
Top news, top layout, the same opportunities, the same gains, keep up to reap the rewards, the strategy continues, and it's better to focus on grasping rather than guessing.
