mt logoMyToken
ETH Gas15 Gwei ($1.07)
EN

Bitcoin and Ethereum afternoon price analysis: 11/6

Share
Bitcoin (BTC) afternoon market analysis (November 6th): The current market exhibits clear range-bound trading, with prices fluctuating repeatedly between the key support level of 98888.8 and the resistance level of 104000. Momentum is weakening, and the market direction is unclear. Technically, although the moving average system shows a bullish alignment and the price is above the long-term moving average, the short-term moving average is flat, and the price action near the Bollinger Band's middle line and the neutral RSI all indicate a lack of clear trend. Furthermore, while the recent bullish engulfing pattern suggests some potential for a reversal, the signal strength is only moderate, and the lack of corresponding volume further exacerbates market uncertainty. Trading recommendations: Buy Bitcoin around 102500-103000, with a target around 104500; Buy Bitcoin 2 around 3350-3370, with a target around 3450.