11.21 Evening BTC and ETH Analysis: 💝

BTC went full throttle on Black Friday! The short-term moving averages are firmly suppressed below the long-term moving averages, and the bearish alignment is obvious at a glance—there’s no ambiguity about the direction. The MACD indicator has been lying below the zero line for a long time, and the green histogram keeps expanding. Bearish momentum is not only strong, but there might even be another sharp drop coming, so you must keep a close eye on it.

As for the mid-term trend, there’s nothing more to say—it’s been firmly controlled by the bears for a while now. The whole market has reached a consensus on shorting, so there’s no need to overthink it. Recently, many people have been asking when to buy the dip, but the answer is simple: with the current trend, trying to catch the bottom is just pointless. Even now, no one can say for sure where the bottom is. The core of trading is to follow the trend; when the trend is clear, go with it to catch reliable opportunities. Respect the trend, and that’s how you survive in the market.

Trading suggestions: Short BTC around 83,500-84,500, target around 81,000, break below 79,000;
Short ETH around 2,740-2,800, target around 2,650, break below 2,600.