Yueying: Bitcoin and Ethereum Market Analysis (November 19th) - Bulls and Bears in a Frenzy, Awaiting Non-Farm Payrolls Report for a Breakthrough

Bitcoin Technical Analysis — Bitcoin's previous analysis remains correct, with the price oscillating within a range. Looking at the daily chart, the previous candlestick closed with a lower shadow, followed by a pullback and rebound after the intraday opening. The Bollinger Bands are still widening downwards, with short-term moving averages trending downwards. The MACD fast and slow lines are extending downwards, and the volume bars are shrinking again. The KDJ indicator found support and turned upwards, currently flattening. The VR indicator is consolidating around 50, and the RSI remains in oversold territory. On the 4-hour chart, the price was resisted by the middle Bollinger Band and then pulled back to the lower Bollinger Band support. The previous candlestick closed with a lower shadow, and the Bollinger Bands show signs of narrowing. Short-term moving averages are starting to flatten, the MACD fast and slow lines are crossing upwards, and the volume bars are increasing again. The KDJ indicator is crossing upwards, and the VR indicator is consolidating around 60. Overall, the analysis remains consistent with the previous analysis. Although the structure is weak, a bearish outlook is not advisable in the short term, as a decent rebound is possible in extremely weak markets. Short positions should be entered only after resistance testing, rather than aggressively chasing the market down. The short-term resistance level to watch is below the previous high, and the support level is above the previous low. See the short-term recommendations below. Bitcoin Short-Term Trading Recommendations: Buy at 90500, Sell at 93100 (Take profits as needed after strategy activation). The short position on Ethereum at 3155 was precisely timed, encountering resistance around 3160. The long position at 2980 rebounded as expected at 2990. Looking at the daily chart, the price is currently facing resistance around the 7-day moving average. If it breaks through this level today, it will test the key short-term resistance around 3200. Overall, technical indicators should be referenced in conjunction with Bitcoin's price action. Intraday, Yueying predicts continued range-bound trading, with resistance around the previous high and support around the previous low. See short-term recommendations. Ethereum Short-Term Trading Recommendations: Buy at 3018, Sell at 3135 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying