Market Overview and Bitcoin Price Analysis Today (18/11)
The worst may be over.
BTC Technical Analysis
Looking at the H4 frame, it shows that there is a relative buying force. Plus the 3 nearest bottoms all make higher bottoms, while the peaks are flat. Create an ascending triangle pattern. In the short term, the price will likely move to the resistance areas
Moving within that zone, D1 has created a strong compression zone, possibly another short-term rally. However, FomoTrade's strategy is still high and short.
So we continue to wait for the price to touch the resistance areas, if there are signs of reversal, we will open a Short/Sell order.
Market Overview
US lawmakers plan to hold a separate hearing on FTX next month, amid efforts to extradite Bankman-Fried from the Bahamas.
BTC/USD is once again heading towards the $17,000 region. This trading pair has shown an adaptation to the events surrounding the insolvency of FTX.
One hedge fund executive suggested that this bear market has seen the demise of Celsius, Three Arrows Capital, Voyager and now FTX, the worst of which may be over.
Several exchanges have also halted withdrawals and deposits this week, citing their exposure to FTX, including crypto lending platform SALT and Japanese crypto exchange Liquid.
Watchlist
Litecoin (LTC): The project built on P2P peer-to-peer network technology, once considered a "silver" in the crypto market, is the fastest growing token in the top 100, when it recorded a profit of more than 8% in 24 hours. via.
Ethereum (ETH): Trying to sustain the price above $1,200, after a slight drop around 0.75% and currently trading around $1,215.
BTC Technical Analysis
Looking at the H4 frame, it shows that there is a relative buying force. Plus the 3 nearest bottoms all make higher bottoms, while the peaks are flat. Create an ascending triangle pattern. In the short term, the price will likely move to the resistance areas
Moving within that zone, D1 has created a strong compression zone, possibly another short-term rally. However, FomoTrade's strategy is still high and short.
So we continue to wait for the price to touch the resistance areas, if there are signs of reversal, we will open a Short/Sell order.
Market Overview
US lawmakers plan to hold a separate hearing on FTX next month, amid efforts to extradite Bankman-Fried from the Bahamas.
BTC/USD is once again heading towards the $17,000 region. This trading pair has shown an adaptation to the events surrounding the insolvency of FTX.
One hedge fund executive suggested that this bear market has seen the demise of Celsius, Three Arrows Capital, Voyager and now FTX, the worst of which may be over.
Several exchanges have also halted withdrawals and deposits this week, citing their exposure to FTX, including crypto lending platform SALT and Japanese crypto exchange Liquid.
Watchlist
Litecoin (LTC): The project built on P2P peer-to-peer network technology, once considered a "silver" in the crypto market, is the fastest growing token in the top 100, when it recorded a profit of more than 8% in 24 hours. via.
Ethereum (ETH): Trying to sustain the price above $1,200, after a slight drop around 0.75% and currently trading around $1,215.
Disclaimer
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