Nov 13 BTC/ETH Intraday Market Analysis

The market is currently in an extremely weak, one-way downtrend. BTC is approaching the 69,850 level, while ETH has fallen below the 1,975 level. The moving averages are aligned bearishly, with very strong resistance overhead. Although a technical rebound may be due after the sharp short-term drop, the overall trend remains downward.

Trading Suggestions

[Primary direction: Sell the rebound for bigger gains]
BTC: Consider shorting on a rebound to around 70,400–70,800, with a stop loss at 71,000 and a target of around 68,500–69,000.
ETH: Consider shorting on a rebound to around 2,005–2,015, with a stop loss at 2,030 and a target of around 1,900–1,920.

[Secondary direction: Go long briefly if support holds, then take quick profits]
BTC: If the price pulls back to around 68,500–68,800 and stabilizes, consider a small long position, with a stop loss at 68,000 and a target of around 69,600.
ETH: If the price pulls back to around 1,910–1,930 and stabilizes, consider a small long position, with a stop loss at 1,900 and a target of around 1,955.
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