Wednesday evening, 11/11: Latest BTC/ETH outlook
Bitcoin had a relatively narrow range throughout the day and is now in a bearish consolidation continuation within the 72,690–74,000 range, at a stage where it is choosing a direction. Structurally, it tested the 74,000 resistance several times during the day but failed to break above it and hold. For a sustained rebound, it needs to firmly reclaim 74,000 before it can target 74,800 → 75,500. Otherwise, it is unlikely to rise much further. Conversely, if it breaks below the previous low of 72,600, the next level to watch is a new low at 71,200.

Ethereum is weaker overall. It needs to move back into the 2,065–2,147 consolidation range to stop falling and rebound; otherwise, it may retest the lows.

The 2,000 level is an important support for Ethereum. It first tested 2,000 last night, but has yet to produce a strong rebound. There is therefore a high probability of another retest of 2,000 to activate buyers below. If it holds and forms a double-bottom support, a long position could be considered to capture a move higher. But if it breaks straight through, avoid going long.

Until resistance is broken, continue to favor selling with the trend and maintain risk controls. More cautious traders can wait patiently for a breakout signal before entering.
Bitcoin: Sell on a rebound into 74,000–74,800 if resistance holds; targets: 72,600 → 71,200
Ethereum: Sell on a rebound into 2,070–2,090 if resistance holds; targets: 2,003 → 1,930
$BTC

$ETH

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#CPI高于预期，美股与BTC再度承压