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📣Analysis and layout sharing of Bitcoin and Ethereum market trends on the evening of 11/7!



Attention! Tonight's non-farm payroll data has been rescheduled; the exact release time will be announced separately! Currently, after a wave of correction, the trend from the last non-farm payroll data suggests a correction followed by a rebound. Today's trend is likely to follow the same pattern!

【Four-hour Ethereum price trend analysis】

K-line pattern:

Recently, the K-line shows a oscillating downward trend. After significant volatility on November 5th, the price gradually declined. On November 7th, a long upper shadow and a bearish body appeared, indicating strong selling pressure above.

Technical indicators:

MACD: DIF and DEA are both below the zero line, indicating a clear bearish signal, but the histogram shortens, showing signs of weakening.

RSI: Currently at 32.66, approaching the oversold zone, suggesting a potential rebound demand, but overall still weak.

EMA: Price has broken below EMA7 (3322.31) and is far from EMA30 (3474.45) and EMA120 (3779.82), indicating a short-term downtrend. EMA7 is acting as resistance.

Volume:

On November 6th, volume significantly increased along with a sharp decline, indicating heightened market panic. On November 7th, volume decreased, suggesting the selling momentum is temporarily exhausted. Watch for signs of stabilization.

Bitcoin and Ethereum layout ideas for the evening of 11/7:

Bitcoin: Suggest long positions around 99800-100000, target levels: 100800-101400-120000.

Ethereum: Suggest long positions around 3230-3240, target levels: 3280-3320-3350.

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BTC-7.13%
ETH-9.38%
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GateUser-180f5395vip
· 11-07 22:24
Experienced driver, guide me 📈
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