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📣11/20 Morning Bitcoin Ethereum Trend Analysis and Trading Strategy Share: (⚠️ Note: Today's two 5-star data)
The primary daily trend line has been broken, and the secondary trend line is also showing signs of instability. However, there is a significant resistance at the 90000 level, which is also the lower boundary of the weekly channel. Therefore, the most critical price point right now is still 90000, which has been tested three times without breaking. As the saying goes, once weak, thrice depleted; this applies to bears as well. Patiently wait for a reversal pattern at 90000 to enter on the right side, as once it appears, it could lead to a medium-term position, with 5000 points being easily attainable.
From the 4-hour chart perspective, Bitcoin shows a six consecutive bearish candle decline. Although there is a halt and rebound, the momentum is weak, and the bulls can only barely protect the price without the strength to launch an effective counterattack. The market is still dominated by bears; on the hourly level, there is a five consecutive bearish candle drop, with no resistance breaking through the lower Bollinger Band. The downward trend is clear, and the short-term market structure has already formed a definitive pattern.
Today’s operations need to be cautious. The daily line should close with a bearish candle; it’s still a weak closing. Today, two five-star data reports are coming, marking the first major data release after the United States' shutdown. Don’t take it lightly; the crypto market is likely to experience turmoil. What’s frightening is not the data itself, but the cautious market prices before the data arrives.
Morning trading suggestions for 11/20:
Bitcoin: It is recommended to short near the rebound at 91900-92300, target points: 90000-89000
Ethereum: Suggest shorting near the rebound around 3040-3060, target points: 2930-2830
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