November 24 Midday: Bitcoin and Ethereum Market Analysis and Trading Ideas

Bitcoin rebounded after stabilizing at the low of 83,471 yesterday, steadily climbing back up and is now fluctuating around 87,400. After consecutive declines on the 4-hour chart, it rebounded and recovered lost ground, returning to oscillate near the middle band of the Bollinger Bands. The short-term trend has entered a stalemate, making it uncertain whether the market is consolidating for a move down or brewing for a reversal. The repeated back-and-forth makes the direction rather unclear, like looking at flowers through fog. On the hourly chart, after testing lower, the price quickly recovered lost ground. The decline was slow but the recovery was fast. Currently, it is in a neutral range position, and the short-term idea is still to focus on range-bound trading. After allowing for some space, the range can be reassessed. Overall, treat it as a range-bound market.

For Ethereum, there was also a surge in buying volume at midnight, with the high reaching 2,856 before facing resistance and pulling back. The price is now fluctuating around 2,820. The 4-hour chart saw a series of bullish candles from the low, recovering nearly half of the previous losses. The drop was fast, but so was the recovery, leading to a back-and-forth oscillating rhythm. The long and short positions are switching quickly, so it's crucial to watch key pivotal points. If the key support/resistance levels are lost, the established rhythm will change. The daily Bollinger Bands continue to narrow. In the short term, wide range oscillation will likely continue. Since it is a range market, focus on selling high and buying low within the range. Prioritize key levels, then the trend.

Bitcoin: Short at 86,900-88,000, target around 85,900

Ethereum: Short at 2,840-2,890, target around 2,790 $BTC $ETH #比特币行情观察 #今日你看涨还是看跌？