#加密市场回调 Night Market Observation on November 20

In the afternoon, when $BTC surged to around 93000, it stalled and then continued to decline, consistently being suppressed by the moving averages, unable to lift its head. The bears have been quite decisive in this wave.

$ETH is more sluggish here, with narrow fluctuations grinding down, following the big coin's sideways movement at a low level.

Looking at the four-hour level, the downward channel has not yet broken. The moving averages have now become a ceiling for the bulls, and the continued weak trading volume indicates that buying interest is very hesitant. Market liquidity is also poor, and there are clear signs that large funds are waiting on the sidelines. Even if there is a short-term bounce, I judge it to be merely a technical correction, so don't expect this to be a reversal.

The non-farm data will be released tonight, and the news may trigger a wave of short-term fluctuations, but I believe it won't change the currently weak overall trend. In terms of strategy, I still recommend primarily shorting on rallies, and the defensive positions must be strictly enforced; don’t get swept out due to data fluctuations.

How to operate specifically?

$BTC can look for opportunities to open short positions in the range of 92500 to 93500, targeting the integer level of 90000.

For $ETH, you can follow the trend around 3060, and pay attention to whether the support in the range of 2980 to 2930 can hold.

Market sentiment is relatively weak, control your positions well, don't get too excited.