11.4 BTC, ETH evening analysis: Multiple tests of the resistance line during the day, further correction will be made if the price breaks through
The third wave of corrections of Ethereum during the day forms a trend, and the market is expected to fall further. Focus on the position of 3146 of Ethereum. Once it breaks through and stands firm, it will directly pull back to below 3000. Why use a pullback? Because the strength of the pullback is limited and cannot affect the big upward trend, friends who operate in the short term can just focus on the small-level trend! At present, Ethereum belongs to a structure of oscillating downward. The three attempts at the trend line above have not broken through. Obviously, the selling pressure above is very large. Then follow the trend to trade rebound and short
ETH from the 1-hour chart: a very classic head and shoulders top pattern, which usually appears at the top. It is clear from the resistance range that 3135-3146 is the position of the 4-hour lifeline. As long as the big Yinxian does not stand firm downward, there will still be a rebound. If it breaks through, it will be strongly bearish. Combined with technical indicators, the MA5, 10, and 30-day moving averages cross the highest point of the trend line to form a pressure level of 3204, but Ethereum has fallen below the neckline, so it is best to open a short position based on the 4-hour lifeline position. In addition, all the attached indicators are bearish, especially the OBV opening is very large and the yellow line is continuously stepped back downward, which is strongly bearish. Then follow the trend and focus on high-altitude
BTC evening strategy: 89380-89880 short, target around 86500!
ETH evening strategy: 3135-3150 short, target around 2900!
