November 14 BTC/ETH analysis:

The US government opens the door to data release, the bubble bursts early!

Last night, the US market opened low and continued to decline. During the early morning speech on monetary policy by the Federal Reserve, a significant number of members expressed that interest rate cuts need to be approached with caution due to rising inflation risks based on current data. The likelihood of a rate cut in December is uncertain. Meanwhile, the weakening of the dollar has led the European Central Bank to discuss de-dollarization and reducing reliance on the Federal Reserve. As market panic increased by the close of the US markets, cryptocurrencies plummeted across the board!

BTC
The market is weakening and has hit new lows, with both short-term and long-term moving averages showing a downward arrangement. The RSI is in the oversold zone indicating a short-term rebound demand. The daily and weekly support has been broken. For the rebound to have strength, it must close above 1006 at the four-hour level; otherwise, the previous rebound is just a downward trend.

Focus on the range of 9860-9910, targeting a breakdown below 9730-9630 to look at 9460.

ETH
Around the range of 3234-3255, the target is to look down at 3027 after breaking through 3145-3078.

Short-term trading is flexible and varies; defense is determined based on the actual situation of one's own position! #BTC #ETH