BTC Market Analysis-November 17th

 2020-11-17 09:59:20

From the 1-hour chart, the opening of the Bollinger Channel runs upwards in parallel. Last night, the price continued to rise again and broke new highs, reaching a maximum of US $16,880. After that, it was blocked and began to fell back. It is currently running at around US $16,680. Technically, the MACD shows it began to shrink, and KD line turned downwards. It seems in a short-term, the trend is short positions.

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From the 4-hour chart, the Bollinger Band is running open, and the K line breaks through the upper Bollinger Band. The major moving averages also rise. MACD continues to shrink the long energy column, and the KD line begins to turn downward, In the short term, there is a tendency for the price to fall back.

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Action suggestions:

Rebound near US $16,700-16,800, enter the market with sell/down orders, target US $15,550-16,450, stop loss 100 points

Fall back near US $16,400-16,450, enter the market with buy/up orders, target US $16,600-16,750, stop loss 100 points

 

Tips: Quotes are time-sensitive, and please pay attention to take good risk control and make good use of "Take profit" and "Stop loss".

The technical analysis of cryptocurrencies in real time should be taken for informational purposes only, and in no case should it be taken as an investment signal.

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