11.18 joker morning #ETH prediction analysis

$ETH On the 15-minute level, Yitai reached a 24-hour low of 2958, currently showing weak support above 3000. The 15-minute K-line indicates a low-volume rebound. According to the trading logic of the 15-minute K-line, a low-volume rise suggests insufficient rebound momentum, and it has already bottomed out and is fluctuating in the short term. The correlation between Bitcoin and ETH is very strong; this weak rebound signal from ETH may imply a reduced probability of Bitcoin further plunging in the short term, and it is likely to enter a narrow range consolidation, aligning with its current low-level fluctuation around 92000.
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ETH 45-minute level: ETH has previously fallen by 15% in the past week, and is currently in a weak rebound phase within an overall downtrend at the 45-minute level. The rebound lacks volume support and is significantly restrained by the prior downtrend, making it difficult for a strong breakout to occur. This signal is reflected in Bitcoin as well, also indicating weak rebound strength. Currently, Bitcoin has fallen nearly 13% in the past week, and even if a rebound occurs, it is unlikely to change the short-term downtrend. Subsequently, it is highly probable that it will continue to test the support level around $90,000, following ETH's weak volatility rhythm. If the support level is lost, it may further decline.

In summary, both of ETH's small-level points indicate a short-term weak rebound and oscillation, and a long-term bearish trend. Coupled with the current background of capital outflow in the cryptocurrency market and institutions reducing their positions, it is highly likely that Bitcoin will maintain a low-level fluctuation in the short term, and the downward pressure has not yet been fully released.
Operation suggestion: Wait for the rebound to oscillate around 3100 to enter a short position, target 2950. If it breaks, look directly at 2850 (brothers holding short positions can try lightly, target 3100, and even 100 points in between is tempting).
$BTC