11.6 Friday Morning Bitcoin and Ethereum Market Analysis and Trading Recommendations
The meaning of hard work is having the freedom to choose how you live. Looking back at the overnight market, after a sharp plunge, Bitcoin stayed in a narrow range between 76,500 and 75,500. A rebound in the early hours tested overhead resistance but failed to break through and hold. After setting a new morning low of 75,158, it quickly bounced back, with no further extension to the downside.
Reviewing yesterday’s trades, Zhilan adjusted flexibly in short-term live trading, securing a total of 4,234 points on Bitcoin throughout the day, while Ethereum gained 109 points. There were both wins and losses, but with proper position management and risk control, steady positive returns were achieved.
Looking at the current market, after a round of sharp rises and falls, it has returned to a weak structure. Daily timeframe: A large bearish candle formed a bearish engulfing pattern, completely covering the body of the previous consolidation candle. The rebound failed to get back above 76,500, and there is still an FVG gap below that needs to be filled.
4-hour timeframe: The sharp drop took the form of a “guillotine” pattern. A large bearish candle with no upper wick broke through all moving-average support, accompanied by strong volume and price action. This indicates extremely strong bearish momentum, leaving the bulls no room to resist.
1-hour timeframe: After probing a new low of 75,158, a lower wick formed, but the rebound was very weak, and the price continues to consolidate in a low range. Also note that this low is very close to the previous low, potentially forming a double bottom.
For future trades, don’t aggressively chase shorts. Follow the trend and focus on selling into rebounds, with stop-losses in place.
Bitcoin: Look to short near 76,500–77,000 if resistance holds on a rebound; targets: 75,000 → 74,000
Ethereum: Look to short near 2,250–2,277 if resistance holds on a rebound; targets: 2,172 → 2,100
$BTC
$ETH
$XAU
#美股走弱，加密货币市场普遍承压
The meaning of hard work is having the freedom to choose how you live. Looking back at the overnight market, after a sharp plunge, Bitcoin stayed in a narrow range between 76,500 and 75,500. A rebound in the early hours tested overhead resistance but failed to break through and hold. After setting a new morning low of 75,158, it quickly bounced back, with no further extension to the downside.
Reviewing yesterday’s trades, Zhilan adjusted flexibly in short-term live trading, securing a total of 4,234 points on Bitcoin throughout the day, while Ethereum gained 109 points. There were both wins and losses, but with proper position management and risk control, steady positive returns were achieved.
Looking at the current market, after a round of sharp rises and falls, it has returned to a weak structure. Daily timeframe: A large bearish candle formed a bearish engulfing pattern, completely covering the body of the previous consolidation candle. The rebound failed to get back above 76,500, and there is still an FVG gap below that needs to be filled.
4-hour timeframe: The sharp drop took the form of a “guillotine” pattern. A large bearish candle with no upper wick broke through all moving-average support, accompanied by strong volume and price action. This indicates extremely strong bearish momentum, leaving the bulls no room to resist.
1-hour timeframe: After probing a new low of 75,158, a lower wick formed, but the rebound was very weak, and the price continues to consolidate in a low range. Also note that this low is very close to the previous low, potentially forming a double bottom.
For future trades, don’t aggressively chase shorts. Follow the trend and focus on selling into rebounds, with stop-losses in place.
Bitcoin: Look to short near 76,500–77,000 if resistance holds on a rebound; targets: 75,000 → 74,000
Ethereum: Look to short near 2,250–2,277 if resistance holds on a rebound; targets: 2,172 → 2,100
$BTC
$ETH
$XAU
#美股走弱，加密货币市场普遍承压
