November 19 BTC/TEH market analysis and trading strategy

The current daily chart of Bitcoin shows a weak pattern of continuous price decline, forming a series of bearish candles, indicating a relatively pessimistic market sentiment. As of today's closing price of 91261, it has significantly retreated compared to the previous trading day, and the price lows are gradually decreasing, further confirming the bearish-dominated trend.

On the hourly chart, the Bitcoin price has experienced consecutive pullbacks after oscillating at a high level, failing to effectively break through the previous segment high around 91950. The current trend shows a clear downward trend. In terms of technical indicators, the MACD on the hourly chart shows both DIF and DEA as negative values, and the MACD histogram continues to release green bars, indicating that the bearish strength is dominant and the overall market is weak.

From the RSI hourly line, the current value is 43.2, close to the oversold area, but has not yet entered the extreme oversold zone, leaving room for further downward movement, and an adjustment may occur in the short term. However, the EMA hourly line shows EMA7 < EMA30 < EMA120 indicating a bearish arrangement, with the price facing resistance after rebounding to EMA7 and continuing to decline, indicating that short-term pressure remains significant.

Overall, the short-term trend of Bitcoin remains weak, with strong bearish pressure. Although there is a possibility of stabilization, the risk of continued price decline still exists under the current technical indicators and trading volume.

Bitcoin: 91330-93000 Short. Target: 90500-89500
Ethereum: Short at 3070-3100, target: 3000-29500 #BTC $BTC