BTC: Since the market started its rise from 62,000 points in mid-October, it fell below the 30-day moving average for the first time, and now stopped falling near 95,000 points.
In the past month, the line near 95,000 points has been the most critical defensive line. The daily line has shown a negative trend for three consecutive years. It is urgent to make adjustments near this position to reach a bottom.
It happens to be Friday. If the US market can hold on in the evening, combined with the two-day shock adjustment on the weekend, the market may start a new round of upward trend next week.
Judging from the 4-hour line, after reaching a new high, it has formed a small-level three-wave downward trend. The market has stabilized near 96,000 points, and the significant key support level below is near 95,000 points.
For intraday operations, we need to focus on the support at 96000-95000 points and expect a rebound. Above, we need to focus on the pressure at 100000-101000 points.
ETH: On the daily level, Ether has shown three consecutive negative trends and has dropped to around 3300 points, the bottom of the box (3300-3500) shock range at the end of October. Its technical trend has been destroyed and can only be arranged based on the K-line. Look for capital market support as a reference.
Analyzing from the perspective of the 4-hour line, Ether's last line of defense is near 3300 points. This position serves as the starting point for the market to start at the end of November, and there is a certain position cost as a pallet support.
The defense of the 3000-point line, as I mentioned before, can be defined as the bull-bear dividing line for altcoins. As long as this line is not broken, there is still the possibility of a bull market for altcoins in the next three months.
At the intraday operation level, we need to focus on the support at the 3350-3300 position and hope for a rebound. Above, we need to focus on the pressure at the 3520-3560 position.
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