11.12 Thursday Morning Bitcoin and Ethereum Market Analysis and Trading Recommendations
Today's small efforts will become tomorrow's big surprises. Looking back at yesterday's overall market, prices pulled back under pressure after an initial spike, then moved in a wide-ranging, choppy pattern. The daytime range was relatively small, as bulls repeatedly tested the resistance zone above. Last night, after bulls pushed prices up to touch short-term resistance at 74800, the upward move failed to continue, and signs of selling pressure gradually became more evident. Prices pulled back again this morning, erasing most of the gains.
I went to bed early last night and did not open any new positions. Reviewing yesterday's daytime live trading, I mainly focused on shorts and gained a total of 986 points on Bitcoin; Ethereum followed suit, bringing in a modest 21-point move. The gains weren't large, but I stayed on track and steadily ended in profit.

Yesterday's rebound was only a technical correction; the current bearish trend remains intact. Daily chart: A small-bodied corrective candle with a pronounced upper wick formed near the lows. If the daily chart fails to close back above 75000 within three candles, the previous uptrend will officially be over, and the next pullback will only just be getting started.
4-hour chart: Price is still moving within a broad range near the lows. The trend of retreating under pressure from the highs is very clear. The candlesticks are arranged in a stepwise downward pattern, with no signs of a bottom, stabilization, or trend reversal.
1-hour chart: The rebound has not been sustained. Price quickly came under pressure and moved lower near resistance. In this weak structure, all short-term rebounds are technical corrections, and another decline remains possible.

Bitcoin: Sell short if a rebound faces resistance in the 74000–74800 range; targets: 73300→72600
Ethereum: Sell short if a rebound faces resistance in the 2070–2090 range; targets: 2003→1930
$BTC

$ETH

$XAU
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