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Bitcoin and Ethereum market analysis and trading strategy on November 8th early morning.



The daily chart shows that the recent price is exhibiting a downward trend. The closing price yesterday was 100818, which is a decrease of 531 points compared to the previous trading day, forming a medium bearish candle. On the hourly chart, a rapid rebound occurred between 8 PM and 11 PM yesterday, but overall it is still in a low-level consolidation phase. The hourly MACD histogram remains negative, and both DIF and DEA are below the zero axis, indicating that the current market is still in a weak state. The daily MACD also shows that bearish momentum is dominant.

Recently, the K-line shows a fluctuating downward trend, with the price gradually retreating from the high point of 3480 on the 5th to around 3291 currently. The daily level shows consecutive bearish candles, indicating that the bears are dominant; there was a brief rebound on the hourly chart, but overall it is still in a descending channel. On the hourly MACD, both the DIF and DEA are below the zero axis and continue to diverge, indicating strong bearish strength. The daily level also shows that the bears are in control #加密市场回调 .
Ethereum: Short at 3290-3350, target: around 3220
Bitcoin: 10.0600-10.1500 short, target: around 99500 $BTC
BTC-2.49%
ETH-3.89%
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