Bitcoin and Ethereum Market Analysis and Trading Strategy for the Evening of November 21

On the daily chart, prices have shown a clear downward trend recently, with consecutive days of bearish candles. Highs are gradually getting lower, and lows are continuously hitting new lows. On the 1-hour chart, there was a significant drop this afternoon accompanied by increased trading volume, followed by a period of market consolidation.

On the 1-hour MACD, both DIF and DEA are running below the zero line, and the bearish momentum bars are expanding but have shortened, indicating that bearish strength is weakening. The price is below the EMA7, EMA30, and EMA120, with short-, medium-, and long-term moving averages arranged in a bearish alignment, showing that the market is still in a downtrend.

Overall, the market remains in a downtrend. Although bearish momentum has weakened and technical indicators suggest a potential rebound, the rebound may be limited given the low trading volume and weak market performance. In the short term, watch whether the price can break out of the current consolidation range. If it fails to rebound effectively, downward pressure will remain significant.

Bitcoin: Long at 82,300-81,000, target: around 83,000
Ethereum: Long at 2,680-2,650, target: around 2,750 #BTC $BTC $ETH