BTC/ETH recent behaviour and report

#BTC (four-hour chart).

Events are developing in accordance with the scenario discussed in recent reviews.

The asset declined to the trading level at $36,700, from where a small rebound of the instrument followed.

The price increased by 1.8%.

While trading volumes are below average, there is no interested buyer.

Therefore, we expect the continuation of the descent of Bitcoin to the next support.

It will be the exponential moving average EMA 21 c of the daily timeframe. It is located around $36,400.

CoinGlass data indicates a significant accumulation of liquidity at $36,600 and $38,200 over the past three days.

After the price drops to $36,400 — $36,600, we expect an increase in open short positions, which will fuel local growth.

This will contribute to the breakdown of the resistance level at $38,000 and the upward momentum of the asset to the upper boundary of the local ascending channel.

After updating the annual maximum in the area of $40,000 — $40,500, a reversal of the price movement may occur with the rollback of the instrument to the overcome level of $ 38,000.

The signal for the continuation of the correction will be the departure of the instrument under this mark.

#ETH. The asset is trying to gain a foothold above the trading level of $2,000.

If this condition is met, Ethereum will test the resistance level around $2,080 for strength.

The total market value of digital assets decreased by 0.9% over the past day, the dominance of the main cryptocurrency increased by 0.3%.

On November 30, data on applications for unemployment benefits in the United States will be released.

The Fed uses this indicator to assess the stability of the labor market.

The data may influence the decision of the regulator regarding the base rate.

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hmm…fingers crossed

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ETH is lagging behind a lot this rally. It’s annoying cuz it’s 53% of my portfolio

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Play the patience game

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