11.12 Market Recap #BTCETH
Reviewing BTC and ETH price action last night, Bitcoin dipped to a recent low of 73357, where short-term buying support kicked in. The price quickly rebounded to around 74749 before entering a range-bound consolidation. Early this morning, selling pressure emerged again, and the market continued to pull back, reaching a low of 73444.
From a broader perspective, the market remains in a wide-ranging tug-of-war, with bulls and bears repeatedly contesting the range. No clear one-way trend has emerged yet. Avoid chasing rallies or selling into declines. Focus on whether breakouts above or below the range are valid, and wait for a clear signal before trading in that direction. Manage position sizes strictly and set stop-losses to protect against downside.
The outlook remains bearish. The current downtrend in Bitcoin and Ethereum is not yet over, and any rebound should be viewed as an opportunity for bears to enter. Don’t try to catch the bottom; make sure to use stop-losses.
Bitcoin: Open short positions in the 73600–73500 range, with targets at 72500–71000.
Ethereum: Open short positions in the 2055–2045 range, with targets at 2035–2020.
$BTC
Reviewing BTC and ETH price action last night, Bitcoin dipped to a recent low of 73357, where short-term buying support kicked in. The price quickly rebounded to around 74749 before entering a range-bound consolidation. Early this morning, selling pressure emerged again, and the market continued to pull back, reaching a low of 73444.
From a broader perspective, the market remains in a wide-ranging tug-of-war, with bulls and bears repeatedly contesting the range. No clear one-way trend has emerged yet. Avoid chasing rallies or selling into declines. Focus on whether breakouts above or below the range are valid, and wait for a clear signal before trading in that direction. Manage position sizes strictly and set stop-losses to protect against downside.
The outlook remains bearish. The current downtrend in Bitcoin and Ethereum is not yet over, and any rebound should be viewed as an opportunity for bears to enter. Don’t try to catch the bottom; make sure to use stop-losses.
Bitcoin: Open short positions in the 73600–73500 range, with targets at 72500–71000.
Ethereum: Open short positions in the 2055–2045 range, with targets at 2035–2020.
$BTC
