11.5 Morning Market Analysis
From overnight into the morning, the market saw a sharp pullback. Profit-taking from gains accumulated during the previous rebound was concentrated, while rising caution over tonight’s nonfarm data prompted funds to seek safety in advance. BTC and ETH both fell sharply, giving back more than half of the gains from this rebound. The short-term structure has shifted from strong to weak.
BTC came under pressure after rising to 81188 yesterday, then traded weakly and sideways during the day before accelerating lower in the evening, with a low of 75158. It posted consecutive bearish candles on the 1-hour chart, breaking directly below the support platform from the previous rebound. Technically, the short-term EMA21 has quickly turned downward and is acting as resistance. MACD has shifted from bullish to bearish, with the green bars continuing to expand. The bullish rebound structure has been damaged, and the market has entered a short-term weak correction cycle.
ETH also followed the broader market lower, retreating all the way from a high of 2449 to a low near 2205. It has given back more than 70% of its rebound gains. The short-term rebound lacks momentum, and its overall performance is weaker than BTC.
BTC resistance: 76800/78000, support: 75200/74500
ETH resistance: 2280/2320, support: 2200/2170
The market is currently in a weak, sideways recovery following the decline. Trading advice: primarily look to sell short into resistance on rebounds; at support, use a light position to trade a rebound, entering and exiting quickly.
Look to short BTC near 76300, targeting 75700,
go long near 75500, targeting 76200
Look to short ETH near 2255, targeting 2220
look to go long near 2210, targeting 2240
$BTC $ETH #美股史诗级抛售 #10月非农数据聚焦
From overnight into the morning, the market saw a sharp pullback. Profit-taking from gains accumulated during the previous rebound was concentrated, while rising caution over tonight’s nonfarm data prompted funds to seek safety in advance. BTC and ETH both fell sharply, giving back more than half of the gains from this rebound. The short-term structure has shifted from strong to weak.
BTC came under pressure after rising to 81188 yesterday, then traded weakly and sideways during the day before accelerating lower in the evening, with a low of 75158. It posted consecutive bearish candles on the 1-hour chart, breaking directly below the support platform from the previous rebound. Technically, the short-term EMA21 has quickly turned downward and is acting as resistance. MACD has shifted from bullish to bearish, with the green bars continuing to expand. The bullish rebound structure has been damaged, and the market has entered a short-term weak correction cycle.
ETH also followed the broader market lower, retreating all the way from a high of 2449 to a low near 2205. It has given back more than 70% of its rebound gains. The short-term rebound lacks momentum, and its overall performance is weaker than BTC.
BTC resistance: 76800/78000, support: 75200/74500
ETH resistance: 2280/2320, support: 2200/2170
The market is currently in a weak, sideways recovery following the decline. Trading advice: primarily look to sell short into resistance on rebounds; at support, use a light position to trade a rebound, entering and exiting quickly.
Look to short BTC near 76300, targeting 75700,
go long near 75500, targeting 76200
Look to short ETH near 2255, targeting 2220
look to go long near 2210, targeting 2240
$BTC $ETH #美股史诗级抛售 #10月非农数据聚焦
