📣Analysis and Trading Ideas for Bitcoin and Ethereum on the Night of 11/8✅

Yesterday's position was closed perfectly at the take-profit point, all positions exited profitably. Currently, Ethereum is in a retracement phase, with support at the four-hour midline.

【Four-Hour Ethereum Price Trend Analysis】

Candlestick Patterns:

The daily chart shows recent price consolidation at high levels, with a long upper shadow on November 7th, indicating strong selling pressure above. Overall, the trend shows a rally followed by a pullback.

On the 4-hour cycle, after a sharp surge, the price has gradually corrected and is now in a consolidation phase, forming alternating small bullish and bearish candles, with an unclear short-term direction.

Technical Indicators:

MACD: The 4-hour MACD histogram has shifted from red to green, with DIF and DEA both negative, indicating bearish dominance, but the downward momentum is weakening.

RSI: The RSI14 is around 45, not in overbought or oversold territory, suggesting market sentiment is neutral.

EMA: The current price is 3383.53, below EMA7 (3402.22), EMA30 (3453.20), and EMA120 (3741.09), indicating a bearish short-term, medium-term, and long-term trend; however, the narrowing gap between EMA7 and EMA30 may signal a potential rebound.

Volume:

Daily volume spiked significantly on November 7th to 683,417, then sharply decreased to 192,869 on November 8th, indicating increased caution among buyers and sellers. The 4-hour volume has been gradually declining, showing reduced market activity and limited capital inflow. Watch for signs of volume expansion.

Bitcoin and Ethereum Trading Ideas on 11/8:

Bitcoin: Consider long positions around 101,400-101,200, with target levels at 102,600, 103,000, and 103,400.

Ethereum: Consider long positions around 3,370-3,350, with target levels at 3,400, 3,440, and 3,480.

I hope more people can learn to make money through my analysis, recognize opportunities, and earn the profits they desire! Let’s dance with the market together!$BTC $ETH $BTC