Bitcoin and Ethereum Trading Recommendations and Future Trend Analysis (11/12)

Bitcoin and Ethereum Trading Suggestions and Directional Analysis in the Early Morning: The best mindset for people on November 12th is to be calm, composed, and seek victory through stability. The long and short strategies we analyzed in the early morning and afternoon yesterday were in line with expectations. We entered the market with our long and short positions, gaining a total of 3900 points and 200 points of profit. After securing the profit, we decisively exited the market. I have always advocated not to trade frequently and only to make stable strategic deployments. From the current market perspective, Bitcoin has been fluctuating above our support level throughout the day. However, it failed to break through the support level after the US stock market opened, instead continuing its pullback and breaking through the lower support. Looking at the current 4-hour chart, Bitcoin is currently converging with the middle Bollinger Band, indicating a strong short-term downtrend. On the 1-hour chart, Bitcoin has broken below the lower Bollinger Band, and both the middle and lower Bollinger Bands are trending downwards, suggesting the short-term downtrend will continue. As mentioned in our previous post, if the 104500 support level is broken, then we should follow the trend. Therefore, our overnight trading strategy is to primarily short on rallies and pullbacks. For Bitcoin, short positions can be considered around 103800-104500, with a target of 102500-102000. For Bitcoin 2, short positions can be considered around 3520-3550, with a target of 3420-3380.