11.29 BTC, ETH Evening Analysis: Breakthrough at the End of the Month is Approaching, Bullish Trend
U.S. stocks have always had a significant impact on the fluctuations of the cryptocurrency market. Since the U.S. stock market was closed last night, the market has shown overall weak fluctuations in the past two days. The post on the 28th was bullish, but the market did not provide an entry opportunity. The general direction remains bullish, as long as the overall direction aligns, we will continue to follow the trend line for low entries. There are still two days to close the monthly line. The risk of Bitcoin's spike is much higher than that of Ethereum. The resistance above Ethereum on the monthly line is at 3830, leaving considerable room for movement. Therefore, focus on Ethereum!
From the 4-hour chart of ETH: The triangular trend has already broken through, so we will continue to lay out support below this triangular trend. There are two resistance levels on the 4-hour chart, 3660 and the monthly line resistance at 3830. As long as the first resistance above does not break, it will continue to operate within the range of 3540-3660, maintaining a bullish bias. If it breaks, we will look at the monthly high. For pullbacks, we can consider setting up a medium-term position, with the trend line support at 3598 being the first level to watch; if it does not break, we can go long. If it breaks, we can look at the second support level at 3540 to set up long positions. Currently, all technical indicators and auxiliary indicators on the 4-hour chart are turning upwards, strongly bullish. So, let's buy on dips tonight!
BTC Evening Strategy: Long from 96700-97200, target around 99200!
ETH Evening Strategy: Long from 3590-3605, target around 3660!