#加密市场回调 November 21 Crypto Market Observation: Will Black Friday Strike Again?

The drop of Bitcoin this time is a bit harsh.

The daily chart shows another large bearish candlestick. Today, the market opened and continued to probe downwards, with the Bollinger Bands opening downwards and the moving averages in a bearish arrangement, nothing much to say about that. The MACD volume has expanded again, and the KDJ, which was initially about to turn, hesitated and continued to move downwards. To be honest, all indicators are signaling a decline, and market sentiment is extremely weak.

However, it is precisely at times like these that one must remain calm. My judgment is that there may still be a wave of accelerated decline to completely wash out the last batch of dead long positions, and the price will likely test the 77000 level. In the short term, there is evident pressure above 88000, and we will first see if 83000 can hold.

The four-hour level is more intuitive - after encountering resistance near the middle track, it continues to decline and directly breaks through the lower track. All short-term moving averages are diverging downward, and the MACD has formed a death cross with increasing volume. Although the KDJ shows some signs of wanting to turn around, the strength is insufficient. The VR indicator is hovering around 40, and the RSI has already entered the oversold zone.

Short-term reference: Consider lightly buying near 83800, and pay attention to resistance around 86900 during the rebound. Remember to lock in profits in a timely manner after the strategy is triggered.

As for Ethereum, just follow the big brother.

It has hit a new low again. There is no need to elaborate on the technical aspect; it is also in a very weak state. The current rebound is very weak, and there are signs of further decline. Here are some reference levels for buying: 2630 and 2588. A staggered approach will be more stable.

After all, this market is about patience. Often, opportunities are brewing during times of panic, but bottom-fishing also requires strategy; don't just jump in all at once.

$BTC $ETH