11.25 Monday Review and Subsequent Analysis of Bitcoin and Ethereum Strategies
Old Wang only speaks with facts, because only cooperative, win-win partnerships can last long. Deception and fabrication can only last for a moment; everyone is not a fool and can terminate cooperation at any time, which is meaningless.
Whether in personal conduct or in work, integrity is the foundation. Old Wang has always adhered to his bottom line, presenting the most authentic information.
The market today can be said to have room for both bulls and bears, and the overall market is as Old Wang expected, undergoing a box-shaped fluctuation! It is exactly the same as the market at the beginning of the year! There are historical references!
After the morning surge, the market immediately faced pressure and fell back after reaching the top and bottom conversion window at around 88000. The morning session was a tug-of-war around this level, while the afternoon continued to probe downward and rebound. The market started to jump rapidly after the U.S. stock market opened in the evening, briefly touching the lower short-term support at around 85000 before rebounding for support. Currently, the coin price is slowly rising.
ETH followed the trend of Bitcoin, rising from the intraday low of 2761 to 2884 in the afternoon before falling back. In the evening, influenced by the strong opening of the U.S. stock market, it once again rebounded.
Old Wang's actual operations today also involved back-and-forth trading with both long and short positions; there was no significant opening profit. Although the layout was relatively small, there was sufficient room for movement, which can be seen in the actual trading records!
Old Wang also discussed thoughts and current price orders during the evening live stream, allowing friends in the live room to layout in advance and reap good returns!
As of now, the overall market will undergo a box-shaped fluctuation here. Old Wang has already mentioned in the live room that this range of 85000-88000 will fluctuate for a long time, and one should sell high and buy low.
On a short-term basis, this wave of trending weekly decline has entered the third cycle. The downward trend has likely completed in the short term, and the next step is to observe for a phase of rebound. If the coin price breaks through and stabilizes above 88000, Old Wang personally believes we can see rebound highs in the range of 92000-95000.
Moreover, the evening surge on Monday was also influenced by the strong opening of the U.S. stock market, which is precisely the reason why Old Wang and friends in the live room laid out trades! Therefore, our subsequent strategy in the early morning will still focus on low longs, and Old Wang here provides a low long suggestion!
Trading Suggestions:
Bitcoin 85800-86300 long, target 88000
Ethereum follows the trend of Bitcoin, and can layout long positions around 2800, target near 2900
$BTC #王建波