Market Overview and Bitcoin Price Analysis Today (20/11)
BTC Technical Analysis
Looking at the H4 frame, it shows that there is a relative buying force. However, the price is creating an ascending triangle pattern. In the short term, the price will likely move to the resistance areas
But we can't trade with a pattern like this yet, besides, surfing in narrow accumulation areas like triangles is force majeure (rectangles can only work), so we have to stop. this action again and wait for the breakout to be better!
Market Overview
FTX Token and Solana have been severely impacted by the sell-off after the FTX exchange and Alameda Research became insolvent. Aptos (APT) is down 33% despite denying rumors that Aptos Labs or the Aptos Foundation is held by FTX.
Bitcoin price downtrend may continue while market sentiment dips. Many traders will probably sell to avoid losses instead of deciding to "hug" Bitcoin waiting for the price to rise.
The market fell slightly in the past week, especially the currencies related to the collapse of the FTX virtual currency exchange continued to plummet, such as FTT, Solana. As of the morning of November 20, the Bitcoin price hovered around $16,600, down slightly from the end of last week. Meanwhile, Ethereum is down 4.39% over the past week, down close to the $1,200 threshold.
Looking at the H4 frame, it shows that there is a relative buying force. However, the price is creating an ascending triangle pattern. In the short term, the price will likely move to the resistance areas
But we can't trade with a pattern like this yet, besides, surfing in narrow accumulation areas like triangles is force majeure (rectangles can only work), so we have to stop. this action again and wait for the breakout to be better!
Market Overview
FTX Token and Solana have been severely impacted by the sell-off after the FTX exchange and Alameda Research became insolvent. Aptos (APT) is down 33% despite denying rumors that Aptos Labs or the Aptos Foundation is held by FTX.
Bitcoin price downtrend may continue while market sentiment dips. Many traders will probably sell to avoid losses instead of deciding to "hug" Bitcoin waiting for the price to rise.
The market fell slightly in the past week, especially the currencies related to the collapse of the FTX virtual currency exchange continued to plummet, such as FTT, Solana. As of the morning of November 20, the Bitcoin price hovered around $16,600, down slightly from the end of last week. Meanwhile, Ethereum is down 4.39% over the past week, down close to the $1,200 threshold.
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