Yueying: Bitcoin and Ethereum Market Analysis for November 21st - Will Black Friday See Another Oversold Plunge? (Intraday Short-Term Trading Strategy Included)
Looking at the daily chart for Bitcoin, the previous candlestick was a large bearish one. Intraday opening saw continued downward testing of the Bollinger Bands' downward opening. Moving averages remain in a bearish alignment, the MACD fast and slow lines are extending downwards with increasing volume, the KDJ turned downwards but failed to cross, and the VR indicator is consolidating around 40. The RSI continues downwards in oversold territory. On the 4-hour chart, the price encountered resistance around the middle Bollinger Band and fell below the lower band with consecutive bearish candlesticks. The Bollinger Bands are widening downwards again, short-term moving averages are extending downwards, the MACD fast and slow lines have crossed downwards with increasing volume, the KDJ shows signs of turning upwards, and the VR indicator is consolidating around 40. Overall, all indicators continue to point downwards, maintaining an extremely weak market. It is predicted that the market will experience another wave of accelerated decline before it can completely stop falling and force the bulls to surrender. The estimated price target is around 77,000, with short-term resistance below 88,000 and support around 83,000. This is a short-term trading suggestion. Bitcoin short-term trading suggestions: Buy at 83800, sell at 86900 (take profits as needed after strategy activation). Ethereum has hit a new low, so I won't go into the technical aspects; it's also extremely weak overall. Use it in conjunction with Bitcoin for reference only. Currently, the market shows signs of accelerating downwards and the rebound is weak. Therefore, only long entry points are provided for reference today. For short entry points, consult Yueying for short-term suggestions. Ethereum short-term trading suggestions: Buy at 2630, buy at 2588 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!