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Market analysis and strategy for the morning of November 14
Buy the dip! Buy the dip! Buy the dip!
BTC has dropped 3.12% within the day, and ETH has dropped 7.28%, both showing "sharp decline with increased volume + deviation from short-term moving averages". The 1-hour RSI has fallen to 35 and 28 respectively, entering the oversold zone; the funding rate for perpetual futures contracts has turned negative, and bearish sentiment is close to reaching a phase release peak.
#BTC has fallen from a high of 107473 to around 98000, a retracement of approximately 8.3%, which is close to the average retracement of the previous period; moreover, the current price is significantly deviated from the 20-day moving average, indicating a demand for a technical rebound.
#ETH has fallen from a high of 3658 to 3176, a retracement of about 13.2%, which far exceeds the retracement of BTC, indicating stronger recovery momentum from the oversold condition; moreover, the ETH/BTC exchange rate has dropped to 0.032, highlighting its cost-effectiveness.
Operation Strategy:
$BTC Buy the dip in the range of 98000-98500, aiming for a target of 101500, and if it breaks, look towards 103000-104000.
$ETH Buy the dip in the 3150-3170 range, aiming for 3280 to break through and look towards 3350.
#抄底