11.9 Monday Evening: Xuwen’s BTC and ETH Outlook
Price action: BTC is currently around 74,492 USDT, down 2.02% over the past 24 hours. The 24-hour high was 76,063 and the low was 73,385, indicating a wide trading range.
2. Short-term trend: On the 15-minute chart, the price rebounded from a low near 73,711 during the day, reaching a high of 75,074 before meeting resistance and pulling back. It is currently in a choppy pullback, and the latest candlestick is a long bearish candle, indicating strong short-term selling pressure.
3. Moving averages (MA): MA5 (74,646) has crossed below MA10 (74,643), and both are turning downward. The price has fallen below these short-term moving averages and is testing support at MA20 (74,443). The short-term outlook is weak.
4. News-driven volatility: The ticker at the top of the chart reads “Hut 8 sells approximately 3,100 BTC.” This bearish news about institutional selling could intensify market jitters in the evening and weigh on bulls.
Trading strategy: (Short on rebounds)
BTC: Short in the 74,700–75,200 range under resistance; stop-loss above 75,100. Target: 73,700; if it breaks lower, watch 73,300.
ETH: Short in the 2,130–2,150 range under resistance; stop-loss: 2,170. Target: 2,190; if it breaks lower, watch 2,080.
$BTC $ETH #比特币走势分析
Price action: BTC is currently around 74,492 USDT, down 2.02% over the past 24 hours. The 24-hour high was 76,063 and the low was 73,385, indicating a wide trading range.
2. Short-term trend: On the 15-minute chart, the price rebounded from a low near 73,711 during the day, reaching a high of 75,074 before meeting resistance and pulling back. It is currently in a choppy pullback, and the latest candlestick is a long bearish candle, indicating strong short-term selling pressure.
3. Moving averages (MA): MA5 (74,646) has crossed below MA10 (74,643), and both are turning downward. The price has fallen below these short-term moving averages and is testing support at MA20 (74,443). The short-term outlook is weak.
4. News-driven volatility: The ticker at the top of the chart reads “Hut 8 sells approximately 3,100 BTC.” This bearish news about institutional selling could intensify market jitters in the evening and weigh on bulls.
Trading strategy: (Short on rebounds)
BTC: Short in the 74,700–75,200 range under resistance; stop-loss above 75,100. Target: 73,700; if it breaks lower, watch 73,300.
ETH: Short in the 2,130–2,150 range under resistance; stop-loss: 2,170. Target: 2,190; if it breaks lower, watch 2,080.
$BTC $ETH #比特币走势分析
