The bearish offensive continues to escalate! BTC and ETH show significant weakness in the 4-hour cycle: after a brief rebound, the downtrend begins with consecutive negative candles, bearish volume continues to be released and gradually spreads, and the weak pattern is already locked in! Despite the multiple long lower shadows appearing below the bearish candlesticks, suggesting a phase of support contest during the downward process, this is merely a short-term oscillation correction. The rebound is more inclined towards an exhausted pullback, which completely fails to reverse the overall downward trend! The 1-hour timeframe presents a clear staircase-like downward trend, operating along the lower Bollinger Band throughout, with the technical aspect lacking any rebound momentum, significantly increasing the probability of continued decline in the market! Operation suggestions: BTC can fluctuate around 91300-91500, if it breaks below 90000, watch for around 89000. ETH can be consolidated around 3050-3100, and if it breaks below 3000, it may look towards 2900.
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11.18 evening BTC ETH analysis
The bearish offensive continues to escalate! BTC and ETH show significant weakness in the 4-hour cycle: after a brief rebound, the downtrend begins with consecutive negative candles, bearish volume continues to be released and gradually spreads, and the weak pattern is already locked in!
Despite the multiple long lower shadows appearing below the bearish candlesticks, suggesting a phase of support contest during the downward process, this is merely a short-term oscillation correction. The rebound is more inclined towards an exhausted pullback, which completely fails to reverse the overall downward trend! The 1-hour timeframe presents a clear staircase-like downward trend, operating along the lower Bollinger Band throughout, with the technical aspect lacking any rebound momentum, significantly increasing the probability of continued decline in the market!
Operation suggestions:
BTC can fluctuate around 91300-91500, if it breaks below 90000, watch for around 89000.
ETH can be consolidated around 3050-3100, and if it breaks below 3000, it may look towards 2900.