Trader Gu Jingci: Bitcoin/Ethereum Trading Strategy and Market Analysis on November 9

Bitcoin/Ethereum experienced another significant drop near the end of the weekly close, with the weekly trend completely deteriorating. The recent low is not a bottom, and further downside remains in the market. However, a large-volume bearish candle with a long lower shadow has appeared on the 4-hour chart, indicating some buying support at lower levels during the decline, though the overall downtrend remains strong. Technically, on the 4-hour chart, both the MACD DIF and DEA lines are below the zero line, with the DIF line continuously crossing below the DEA line, and the MACD histogram showing negative values that are expanding, indicating dominant short-side momentum and an ongoing downward trend. Nevertheless, after a rapid drop, there is still room for a short-term rebound. Resistance levels at 76,000–76,500 for Bitcoin and 2,200–2,240 for Ethereum, which have been range-bound during the weekend, now represent new support/resistance zones due to top-to-bottom reversal dynamics. Trading suggestion: Enter long positions at 74,000–74,500 for Bitcoin, targeting 75,800; enter long positions at 2,110–2,130 for Ethereum, targeting 2,180. Stop-loss at 73,000 for Bitcoin and 2,080 for Ethereum.