Recent Market analysis-November 26th

 2020-11-26 12:40:41

The price of BTC has fallen rapidly, and mainstream coins have followed the BTC retracement. At this time, no matter how much the currency price has risen, the embarrassment of a retracement cannot be avoided.

 

According to the 15-minute K-line chart, although BTC has fallen in high volume, there seem to be not many investors buying large volume in the low price zone. The short-term bottom of the BTC price retracement has to be further adjusted. At the same time, the strength of shorts accumulates more during the unilateral upward trend of BTC, and the release of selling pressure will help the subsequent long trend to continue.

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ETH followed BTC's retracement at a faster rate, and most cryptocurrencies fell in a clear direction, that is, a reversal pattern was confirmed within 2 to 3 trading days. Based on this judgment, recent adjustments are also relatively an important price patterns. Not surprisingly, cryptocurrencies such as XRP, which have seen larger gains, will need more trading days to adjust before they can stabilize at the support level. Therefore, patience is required.


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