Afternoon Trading Suggestions and Future Trend Analysis for Bitcoin (11/17): The current market is in a downtrend. Technically, a bearish formation is evident, with prices below both short-term and long-term moving averages, and the moving average system sloping downwards, indicating overall market weakness. However, the price is currently approaching the strong support level of 92922.8, forming a key technical observation point. Although the candlestick pattern shows a bullish engulfing pattern, potentially signaling a reversal, low trading volume weakens the validity of this signal. The subsequent volume-price relationship needs to be monitored to confirm the market direction. Given the current downtrend and the price approaching the strong support level of 92922.8, a consolidation pattern is likely in the short term. Low trading volume weakens the validity of the reversal signal; therefore, a sell-on-rallies strategy near resistance levels aligns with a comprehensive assessment of technical factors and market sentiment. Trading Suggestions: Bitcoin: Short near 95500-96000, target 94000-93000. Bitcoin 2: Short near 3200-3220, target 3120-3050.
Bitcoin and Ethereum Afternoon Trading Recommendations and Future Trend Analysis: 11/17
2025-11-17 06:14:39
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