11.22

The probability of the Federal Reserve cutting interest rates in December has risen to around 71% according to CME.

BTC
Bitcoin has now reached a very important support key area between 78500 and 86400. As long as it doesn't break, I personally believe there will be a small rebound. Therefore, if you are optimistic about this position moving forward, you can gradually enter a little bit. However, even if it moves upward from this position, it is only a rebound, not a reversal. From a technical perspective, this position has not completely stopped falling, but a rebound is needed to make repairs. However, it still requires time to adjust, so there is not much upward space in the short term. Overall, it will still mainly be dominated by fluctuations and a downward trend, because the crypto market is becoming increasingly correlated with the US stock market. Therefore, we need to pay attention to the trends in the US stock market and the upcoming macro trends. From the perspective of the US stock market, the weekly level is still performing poorly, so the weekend will mainly be about fluctuations, with support at 822500-78500 and resistance at 86400-88500.

ETH
Ethereum's suggestion yesterday was to accumulate in batches around the range of 2820 to 2600. The current thought process is the same. I personally believe it will oscillate around this range for a while before making a directional choice. Therefore, from a short-term technical perspective, it has not completely stopped falling and is still trending downwards. However, from the overall market and the relationship of indicators, a rebound is needed to help repair the market. Thus, in the short term, the upward space of the market is limited, but in the medium term, this position can be monitored in batches, with support at 2670-2600 and resistance at 2820-2930.