11.11 Wednesday Morning Bitcoin and Ethereum Market Analysis and Trading Recommendations
After falling overnight, Bitcoin rebounded from its lows this morning. It met clear resistance after reaching a high of 74,000. Ethereum rebounded in tandem to 2,064 before pulling back slightly. The rebound was largely driven by a modest bounce after short sellers took profits and closed positions.
There was no clear sign of a slowdown at the levels identified for early-morning short entries, so for subsequent trades, move the short-entry levels higher. A review of yesterday’s Zhilan live-trading strategy shows that the focus was mainly on shorts, with rebounds bought at lower levels. Bitcoin gained a total of 1,437 points over the day, while Ethereum gained 79 points.

The current market is firmly in the bears’ control. Daily chart: Prices have fallen in a stair-step pattern, with consecutive bearish candles and another large-bodied bearish candle. There are no signs of a bottom yet. If the lows break, price may go on to fill the FVG gap in the 73,000–70,500 range below.
4-hour chart: Each modest rebound is followed by another high-volume decline, with clear resistance overhead. The fast, medium, and slow EMA lines are all fanning out downward. The bearish trend is very clear; a break below the 75,000 level would confirm the downtrend.
1-hour chart: A low-volume rebound has started from the lows. This bounce is largely due to a modest lift after short sellers took profits and closed positions. If price returns to trade within the consolidation range above, bulls may have room for a further rebound, but a modest bounce is not enough to reverse the downtrend, and strong resistance remains overhead.

For now, consider waiting for a rebound, then re-enter short positions in the resistance zone above, with risk controls in place.
Bitcoin: Short if the rebound meets resistance in the 74,000–74,800 range; targets: 72,600→71,000
Ethereum: Short if the rebound meets resistance in the 2,090–2,120 range; targets: 2,003→1,930
$BTC

$ETH

$XAU #CPI高于预期，美股与BTC再度承压