Market Analysis on November 13, 2024

Bitcoin Daily

Resistance Level Around 90,000

Support Level Around 84,000

Yesterday, Bitcoin once again set a new high, reaching a maximum of 89,970, just a step away from 90,000 US dollars. The resistance level we provided yesterday was also around 90,000, which was in line with expectations. It's not advisable to chase higher prices at this position. Yesterday, Bitcoin fluctuated more than 5.5%, and there was a liquidation in the contract market of 752 million US dollars, with long positions accounting for 63.54%, reaching 478 million US dollars, and short positions accounting for 36.46%, 274 million US dollars. Bitcoin may hover around 90,000, and the trend remains upward. The target before the end of the year is 100,000 US dollars; we just need to see when it can break through. The trading strategy is to buy on dips and avoid chasing highs. Those who shorted around 89,000 yesterday made profits, and one should always take profits and not be greedy. Wishing everyone a happy Wednesday.

Ethereum Daily

Resistance Level Around 3,400

Support Level Around 3,180

Yesterday, Ethereum rebounded to a maximum of 3,442 but quickly retraced. 3,400 remains an important resistance level, and today’s resistance is still set around 3,400. After a week of consecutive increases, it should take a break. The first support level is around 3,180, and the second support level is around 3,030. Those who are more aggressive can consider going long around 3,180, with good position control and not too large. Ethereum has great potential for the future, and there's still a lot of room for growth. Of course, one can also short around 3,400, but the requirement is to be quick in and out, avoiding greed. Always take profits when available. Wishing everyone a happy Wednesday.

The above information is for reference only and should not be considered as investment advice.