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Bitcoin (BTC) intraday trend analysis
1. Price and Range
The current price is fluctuating within the range of $108500-106000 and has not broken through the key resistance level of $110000, indicating a weak short-term structure.
The recent low has hit the $106500 area, and if it falls below the $106500 support, it may further drop to $103000 or even $100000.
2. Technical signal
Moving average system: The 50 day moving average forms a dead cross with the 100 day moving average, and prices continue to run below the short-term moving average, increasing bearish momentum.
Indicator: The MACD bar chart continues to be positive but gradually decreases in volume. After KDJ is overbought, it turns downwards, indicating a weakening of bullish power and the existence of opportunities for rebound and short selling.
Quantity and energy: Trading volume has been sluggish recently, and there is insufficient quantity and energy when prices rebound, indicating cautious market confidence.
3. Operational suggestions
Rebound Short Selling: Lightly position short in the $110000-111000 range, with a target of $10800-106500 and a stop loss set above $112500.
Long at support level: If the price stabilizes at $106500, you can try taking long positions with a light position, aiming for $109500-110000, and strictly stop below $103000.
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Ethereum (ETH) intraday trend analysis
1. Price and Range
The current price is fluctuating within the range of $3750-3950, with resistance at $3960-4000 above and key support at $3800-3820 below.
If it falls below $3800, it may further explore the $3740-3650 range; If you stand firm at $3800, you may test the pressure of $4000 in the short term.
2. Technical signal
Form: The daily chart shows a "double top" pattern, with resistance of $4200 remaining unbroken multiple times, indicating significant bearish pressure.
Indicator: MACD bar chart shrinks, KDJ is neutral (69), but RSI is close to oversold area (35-40), indicating technical rebound demand.
Quantitative energy: When the rebound occurs, the trading volume rises but does not continue, indicating insufficient bullish momentum.
3. Operational suggestions
Rebound Short Selling: Lightly position short in the $3920-3960 range, target $3750-3800, and stop loss above $4000.
Long at support level: If the price stabilizes at $3800, you can try taking a long order with a target of $3920-4000 and a stop loss below $3750.
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Market sentiment and risk warning
Overall environment: The cryptocurrency market is affected by Federal Reserve policies, institutional fund flows, and the performance of altcoins. Currently, institutional funds continue to flow out of Bitcoin ETFs (such as $1.9 billion in outflows), leading to a decrease in market risk appetite.
Key events: Attention should be paid to the US employment data (released on November 4th) and the progress of the SEC's approval of the Ethereum ETF, which may trigger short-term volatility.
Risk control suggestion: If the intraday fluctuations intensify, it is recommended to strictly set stop loss and control the position within 30% to avoid chasing gains and selling losses.
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Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.