11.24 Callback means increasing long positions significantly, Sunday strategy analysis and operational suggestions
#BTC创历史最大月度涨幅 #比特币突破10万？ #ETH市场新动向 #聚焦比特币
After several days of continuous rise, Bitcoin ultimately followed my expected pullback today. In yesterday's article, I repeatedly mentioned that the price of coins would gradually release with volume, preventing the market from experiencing the risk of probing and falling back. This is worth being cautious about, especially as the bullish trend of Bitcoin has weakened.
Indeed, the price successfully reached the first support level around 97200 (which is also our entry position for the long position at 97500), and it is currently fluctuating around 98000. From the current technical structure, although the decline has some strength, it is merely a short-term impact and does not affect the reversal of the trend. The bulls still maintain their stance, but without strong momentum, so do not chase short positions. If the price continues to pull back slightly today, you can increase positions and continue to hold. Under fluctuations, a pullback to the right level is an excellent opportunity to increase long positions. The early morning today until tomorrow morning is a critical period for the trend. Whether it can break the 100,000 mark depends on the upcoming key position at 99000. Similarly, we will still look at the closing situation from a 4-hour level. If the closing is above this level, we can continue to see upward movement towards 99650 to 100,000. Conversely, if the closing is below this level, pay attention to the downside around 98000—97200.
Increase long positions around 97000-96500 for Bitcoin, with a target of 10000-11000 as a medium-term trade.
Ethereum also changed its previous sluggish state yesterday, rising to 3350 in the morning before slightly consolidating, and has not dropped below the 3310 level. In the evening, it finally exceeded the high point at 3450 and returned to around 3500 for a pullback, just right to retest the support at 3380. It is currently fluctuating around the 3430 level. In the morning, pay attention to the closing situation at the hourly level around 3450. The upper pressure levels are at 3550—3580, while the lower pullback support is around 3400—3360 (as long as the second support is not broken, the bullish trend remains strong).
Long positions around 3350-3330 for Ethereum, looking towards 3450-3400. If there is not much fluctuation during the day, it is expected to reach after midnight.
—— The above article is meticulously written by Li Hong Trends, and the views expressed in the article only represent the author's personal opinions and do not constitute specific operational advice. The article has a lagging nature, and the risk of trading based on it is borne by the reader. For more real-time analysis and trading strategy information, please click on my avatar to obtain.
