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Bitcoin and  Ethereum Market Analysis – 26.11.2021

BTC daily chart shows that, we’ve had four candle declines, at least from a cycle point of view, it’s day-65 low.

We’re very close to the reversal. Everything is getting in the right shape for the cycle-low to go for the reversal.

My experience in trading cycles has taught me that, a lot of liquidations are recorded in this type of scenario, where traders are confident that, the cycle low has hit the bottom especially in a bull trend, but sometimes, a decline like this can punish traders.

There is a very good chance that, we have hit the low but I don’t want to jump into it. It’s very possible to have a further decline up to $48k. Therefore, we have to wait for confirmation using other indicators.

Pic.1: We’re very close to the reversal. Source: Paid Content by Peter Brendt and his partners at bitcoin.live , BTCUSD Chart by TradingView

Ethereum
ETH/USD chart looks very bullish because it has more convincing cycle low behavior. The low right here of 3-4 days ago was a higher low and we got out the 10-day MA comfortably.

In theory, we should wait for BTC cycle to confirm, because the Bitcoin cycle drives the entire crypto space but I’მ still long on this.

Ethereum could give us a good trading opportunities but we still need to get the confirmation from the BTC cycle point of view. We have to monitor the cycle situation in BTC for the sustainability of the uptrend.

Pic.2: ETH/USD chart looks very bullish because it has more confirming cycle low behavior.
Source: bitcoin.live , ETHUSD Chart by TradingView

🔴This Market Update is created using Paid Content by Peter Brendt and his partners at Bitcoin.live. Peter Brendt is a Trader since 1975. Author and publisher of the Factor Report as well as Best Selling Trading Books. If you want to read full content by him and his partners, trading signals/calls in real time, daily/weekly/monthly reports, trading videos and podcasts, trading tips check out his VIP Subscription Service


🔴This Market Update is created using Paid Content by Peter Brendt and his partners at Bitcoin.live. Peter Brendt is a Trader since 1975. Author and publisher of the Factor Report as well as Best Selling Trading Books. If you want to read full content by him and his partners, trading signals/calls in real time, daily/weekly/monthly reports, trading videos and podcasts, trading tips check out his VIP Subscription Service