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November 17 BTC/ETH Analysis:
Bottom-fishing opportunity? Monthly decline exceeds 30%!
BTC has been declining for a month from its historical high of 1262 due to Trump's comments on tariffs, giving back 30% of its gains since the beginning of the year. The largest funds driving the rise came from institutional investors betting on a rate cut in December, but the Federal Reserve's hawkish shift in its rate cut stance has also led to a rapid withdrawal of major funds!
BTC
The morning pullback just touched the weekly support and started to rebound. Currently, the smaller timeframe is strengthening. As long as the daytime pullback does not break below 9440, there will be a small-level rebound. Although the overall trend is bearish, the market makers will need to push prices higher before they sell off. For short-term targets, do not overthink the pattern; focus on a steady approach around the 9960 area.
Around the range of 9440-9480, the target is to break through 9590-9670, looking at 9830.
ETH
The concubine's trend is a bit stronger, with the morning's spike approaching 3000 and starting to rebound quickly, indicating that some buying pressure has begun to enter. During the day, pay attention to the 3132 level for a pullback; as long as the pullback does not break the small-level support, the upward trend will continue.
Around the range of 4145-4166, the target is to look for a breakthrough above 3185-9228 towards 3272.
Short-term trading is flexible and changes, with defense based on the actual situation of one's position! #BTC #ETH