Market observation on the evening of November 11: #美国终止政府停摆危机

$BTC has rebounded a bit on the 4-hour level, and the price has indeed moved up a bit. But to be honest, this strength is really not strong, and it is still grinding back and forth within a range. Right now, it is being pulled between the upper and lower bands of the Bollinger Bands, with neither the bulls nor the bears giving in to each other, while the middle band has temporarily supported the price, serving as a short-term support.

Looking at the daily chart, Bitcoin is clearly in the second wave of a downtrend. Although both MACD and KDJ have shown some signs of a rebound, leading some to believe it might stabilize, let's not forget the resistance zone between 108,500 and 110,000—this area is filled with trapped positions and profit-takers looking to exit. If the daily chart cannot even stabilize in this pressure zone during a rebound, it would essentially be game over. It is very likely to directly enter the third wave of decline, and the drop will be more severe than the second wave.

$ETH is more obvious here. The rebound on the 4-hour line is really weak, hitting 3400 dollars and being pressed down, forming a long upper shadow bearish candle — this is a signal of a bearish engulfing, indicating strong selling pressure above. The Bollinger Bands have started to narrow and move downward, with the price hovering below the middle band at 3300. The previous support level has now turned into resistance, tightly constraining the rebound space.

On the daily level, although Ethereum's KDJ and MACD are still resonating upwards, the momentum has clearly weakened compared to yesterday. The entire Bollinger Bands is operating in the lower band area, and the bands are continuously moving down - this is a typical weak pattern. The market's selling pressure sentiment is still very strong, and is there really room for a short-term rebound? The space is indeed very limited, and there is considerable downward pressure ahead.

Reference for operational ideas:

Bitcoin short position range: 105800-106300
Bearish target: 103000-102500

Ethereum short position range: 3590-3610
Bearish target: 3500-3470