11.25BTCETH evening thoughts

Next, the repair space is limited, and many troops should be cautious. Since last weekend, the market has oscillated upwards in a "belly-contraction" pattern. Although it has risen significantly, it must be emphasized that this is merely a technical recovery after a sharp decline, and by no means a trend reversal.

Whether from the weekly, daily, or 4-hour level, there are no reversal signals appearing, and the higher time frames are still clearly in a weak position.

In terms of weekly charts, four consecutive solid bearish candles have smashed through the lower band, and the price managed to pull out a few small bullish candles only after receiving support at 80600. This level of strength poses almost no threat to the main downtrend.

The daily line follows the same rhythm: a decline accompanied by weak rebounds, breaking below the lower track after multiple bearish volume increases, followed by a few consecutive bullish candles for recovery, and then easily pushed back down by bearish candles. The rebound is weak and lacks continuity, and the overall direction remains bearish.

After retreating from the previous high at the 4-hour level, it has formed three waves of decline, with each wave setting a new low. The current price is facing pressure at the upper boundary of a smaller level. If this confirms as the fourth wave retracement, the next round of the fifth wave decline will likely completely break below 80600, with the market heading straight towards the 70s.

Personal suggestion
BTC: Enter in the range of 88000-89000, with a target looking down at 85k-83k, a swing target of 80k, and a long-term target of 74k!
ETH: Enter the market between 2960-3000, target down to 2780, short-term view at 2600, long-term view at 2400!
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