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November 12th research report
Yesterday's market review
BTC pumped again over the weekend, currently breaking through 89000 and reaching a new high. The short-term trend remains very strong, significantly exceeding expectations. Recently, follow the fundamental information. The current technical indicator has become invalid, and the expectation is still a volatile upward trend. The greed index is currently soaring. It is recommended that buddies who hold BTC start to reduce positions and control risks. The daily candlestick level has entered Overbought, and the weekly level has entered Overbought. A strong pullback is expected. Follow the market sentiment changes, reduce positions to avoid risks, and continue to be bullish in the long run.
ETH followed BTC to pump yesterday, continued to rise, has broken through 3300, had a slight pullback yesterday and quickly recovered. It is expected to continue to rise during the day, with a target of 3500.
Follow the mainstream in the altcoin sector and pump synchronously. Be patient and continue to hold SATS. Consider closing all positions around 50. PEOPLE has repaired the previous market situation, and there is no obvious pump during the election period. Many people are getting out of positions, so you may consider continuing to hold. Keep holding FTM. The new altcoin recommendation ACT can be established as a core holding, and there will be good potential in the future.
Intraday market analysis
BTC 1-hour and 4-hour levels entered overbought territory, and the daily candlestick level also entered overbought territory. Expect a pullback during the day with upward oscillation. The long-term expectation has not weakened. The intraday support is 86000-86500, and the resistance above is 89500-90000.
ETH 1-hour and 4-hour timeframes have entered overbought territory, daily candlestick timeframe has also entered overbought territory. There may be a rebound during the day, with support at 3200-3250 and resistance at 3450-3500.