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11.13 Morning Analysis


On the daily chart for Bitcoin, the previous rally failed to break through the key resistance level at 106,000, indicating that upward momentum has weakened. After losing the critical support level in the early hours, the short-term moving averages turned downward simultaneously, further clarifying the weak market structure, with short-term downside potential still present.

Bitcoin can be shorted around 102,500-103,000, with targets near 101,000-100,000;
Altcoins can be shorted around 3,450-3,500, with targets near 3,350-3,300.
BTC-0.02%
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