Non-farm and unemployment rate are moving in opposite directions; the probability of interest rate cuts in December is low. Cautious trading! 11.21 Bitcoin Auntie’s Strategy

On Thursday Eastern Time, the US stock market experienced a rollercoaster session. Despite NVIDIA’s strong earnings report boosting market sentiment, with the Nasdaq initially rising over 2%, concerns about valuations resurfaced, and expectations of rate cuts were further dashed. The three major indices all closed lower, with the Nasdaq down more than 2%. Cryptocurrencies also declined again in the early morning, with Bitcoin dropping below 86,000 and Ethereum falling below 2,800. Yesterday’s bullish outlook was in line with expectations, but the overall pattern remained unchanged. Ultimately, Bitcoin gained over 2,000 points, Ethereum gained over 100 points, but during midnight, a second bottom was entered, and stop-loss was regrettably triggered!

On the daily technical chart, Bitcoin Auntie’s strategy turned bearish again with a bearish candle. This morning, the trend continued downward, with Bollinger Bands trending down, and the price moving near the lower band. Moving averages are arranged in a bearish alignment. The KDJ indicator shows a dead cross and diverges downward for the second time, MACD’s two lines are crossing downward and extending, while volume continues to increase. The overall trend is bearish. Therefore, for intraday trading, Conan suggests mainly shorting on rebounds and taking minor longs as supplementary!

11.21 Long Entry Strategy:

Enter the first long position on Bitcoin if it retraces to 83500-84000, with a stop around 82500. Target levels are near 85000-86000-87000. If price breaks through, move stop-loss accordingly to continue profit.

Enter the first long position on Ethereum if it retraces to 2700-2750, with a stop around 2650. Target levels are near 2850-2900-2950. If price breaks through, move stop-loss accordingly to continue profit.

11.21 Short Entry Strategy:

Sell one short on Bitcoin if it rebounds to 89500-90000, with a stop around 91000. Target levels are near 88000-87000. If price breaks through, move stop-loss accordingly to continue profit.

Sell one short on Ethereum if it rebounds to 3000-3050, with a stop around 3100. Target levels are near 2900-2850-2800-2750. If price breaks through, move stop-loss accordingly to continue profit.

I’ve been hospitalized these days and had a minor surgery. Last night, I was in extreme pain, so I did not review or write analysis for the evening session. The market is very prone to reversal on Friday, so everyone should trade cautiously! If the downtrend continues, a rebound could happen over the weekend. Stay cautious in volatile markets! #美联储会议纪要将公布