General analysis
bitcoin hit an all-time high of $81,751, continuing its rally for six consecutive trading sessions. Trump's victory has fueled the rise of bitcoin.
ethereum successfully closed above a major resistance level and the rally looks set to continue higher.
bitcoin Chart Analysis
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btc/USD 15 minute time frame
In the trading session of November 10, 2024, bitcoin rose almost 6%, reaching a new all-time high and extending its rally into the next session. Furthermore, the price is currently in the overbought zone.
On the daily chart, bitcoin has formed six consecutive green candles, continuing its upward movement without pause. The RSI on the daily chart also indicates overbought conditions, making it difficult for positional traders to maintain their trades.
On the 15 minute time frame, the price action keep moving up, forming higher highs and higher lows, with the RSI remaining in a safe zone. Furthermore, the price is currently trending within a channel, maintaining its bullish structure.
For possible entries, consider the following triggers:
- If the price returns to the support trend line, buyers may consider entering with a stop loss below the previous low and target. based on a follow-up basis.
- If the price falls below the support trend line and sustains below $79,720, sellers may consider entering with a stop loss above the previous high and target the $77,368 level.
ethereum Chart Analysis
eth/USD 15 minute time frame
On November 10, 2024, ethereum continued its upward rally on both daily and 15-minute time frames. Starting November 11, ethereum seems to be consolidating on the daily chart, thus allowing possible new buyer entries.
After breaking a major resistance level, ethereum maintained its upward movement for three consecutive sessions. Currently, the price is consolidating and if it breaks the consolidation candle, positional buyers might consider entering the trade.
the price is following a higher high and higher low pattern, finding support at the trend line, with the RSI confirming the price action. Below are some possible entry points:
- If the price falls below the support trend line on the 15-minute time frame and continues its downward movement, sellers may consider entering with a stop loss above the previous high, targeting the $3,056 level .
- If the price bounces off the support trend line, buyers may consider entering with a stop loss below the previous low, targeting the $3,237 level.
Both bitcoin and ethereum are currently in overbought territory on the daily time frame.so an abrupt reversal could occur. It is highly recommended to use strict stop losses.
The post bitcoin and ethereum Analysis: btc Hits High, eth Stable appeared first on FinanceBrokerage.
