11.15 Sunday afternoon: Latest BTC/ETH analysis
Although BTC formed a bullish engulfing pattern after falling to 61,956, indicating potential for a rebound, it has not stabilized above 65,000. For now, this can only be described as a technical recovery rebound after a sharp drop. Overall, the market is still forming an inside-bar pattern around this bullish candle, remaining within the weak trading range of 65,000–62,600.
Around 62,000 is the midpoint of the large daily-chart range, so it should provide some support. But unless price can hold above 65,000, that support won't be enough: the market may continue to move sideways, or retest the lows. If you're looking to go long, it's best to wait for a second retest near 62,000 and a bottoming signal before entering. The upside targets are 66,000 → 67,400;
If 62,000 breaks decisively, don't go long. If it fails to hold, the next level to watch is around 60,200.
For the next trades, follow the trend. As mentioned in the overnight outlook, the main approach is to short into rebounds. Trying to buy the bottom and go long now is a countertrend trade, so manage your risk carefully.
$BTC
$ETH
$XAU
#加密市场大幅回调，多名巨鲸遭遇清算
Although BTC formed a bullish engulfing pattern after falling to 61,956, indicating potential for a rebound, it has not stabilized above 65,000. For now, this can only be described as a technical recovery rebound after a sharp drop. Overall, the market is still forming an inside-bar pattern around this bullish candle, remaining within the weak trading range of 65,000–62,600.
Around 62,000 is the midpoint of the large daily-chart range, so it should provide some support. But unless price can hold above 65,000, that support won't be enough: the market may continue to move sideways, or retest the lows. If you're looking to go long, it's best to wait for a second retest near 62,000 and a bottoming signal before entering. The upside targets are 66,000 → 67,400;
If 62,000 breaks decisively, don't go long. If it fails to hold, the next level to watch is around 60,200.
For the next trades, follow the trend. As mentioned in the overnight outlook, the main approach is to short into rebounds. Trying to buy the bottom and go long now is a countertrend trade, so manage your risk carefully.
$BTC
$ETH
$XAU
#加密市场大幅回调，多名巨鲸遭遇清算
