BTC

Bitcoin's price movement has precisely fulfilled the November 5 prediction, with the price probing the $107,500 resistance level before pulling back as expected. It is currently trading at $103,300, down approximately 4.5%.

Although U.S. stocks have been boosted by the U.S. government's reopening amid mixed long-short forces, the cryptocurrency market remains weak, with shrinking trading volume and insufficient buying momentum. Technically, there are no clear reversal signals yet.

We maintain a short-term bearish view on BTC but recommend fine-tuning the take-profit and stop-loss targets. At the same time, we suggest that those who have not entered the market set up short positions near the Fibonacci 0.618 retracement level of $105,500. Take-profit targets are sequentially set at $100,000, $95,000, and $92,000, with the stop-loss at $110,350.

Reference Points:

• Direction: Short

• Entry: $105,500

• Take-Profit: $100,000 / $95,000 / $92,000

• Stop-Loss: $110,350

ETH

Last week on November 5, we analyzed that ETH could be entered at $3,650 and $3,800, which was accurately hit but with weak momentum. On November 10, the price rose to $3,658 before being blocked and pulling back. Yesterday, it encountered resistance again at $3,648, then fell alongside BTC, with a single-day drop of 4.2%.

Ethereum's price has failed to break through for two consecutive days, with clear pressure at $3,650. We maintain a bearish view on Ethereum but fine-tune the take-profit and stop-loss targets. We suggest that investors who have not entered the market set up ETH short positions in the $3,600-$3,640 range.

Regarding take-profit and stop-loss, the previous recommendation was to take profits in batches at $3,057, $2,900, and $2,750; now, adjust $2,900 to $2,900-$3,000. Investors should closely monitor the reaction at $3,000—if it breaks below $2,900, it may head straight to $2,750. The stop-loss is lowered to $3,920.

Reference Points:

• Direction: Short

• Entry: $3,600 - $3,640

• Take-Profit: $3,057 / $2,900 - $3,000 / $2,750

• Stop-Loss: $3,920

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.