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$BTC November 21st early morning Bitcoin Ethereum market analysis and trading strategy
Bitcoin rebounded above 93000 during the day but faced pressure and began to pull back, with the current price oscillating around 91700. The 4-hour chart shows a weak downtrend with stepwise oscillations, and the short cycle is weakening. The rebound high near today's resistance point is crucial, with further acceleration and volume growth expected in the weak 4-hour step. During the daytime, there has been a slow decline, along with a volume-driven drop. At midnight, maintaining the resistance at the high point allows for continued short positions.
Ethereum faced pressure again after failing to break through the 3100 mark with an intraday rebound, and the price has now returned to around 3020 and is oscillating. The 4-hour chart shows 3350 as a step high point. After being pressured here at the beginning of the week, it further broke down. Currently, the resistance of the middle track has moved down to around 3200. In the short term, further declines are expected. Tonight's operations will focus on the middle track, looking for opportunities to continue to be bearish. The momentum of yesterday's rise and fall has broken lower, and after consolidation, there will be a renewed volume, indicating that today's weakness will continue.
Bitcoin: Short at 88600-90000, target around 87000
Ethereum: Short at 2900-3100, target around 2850