Weekly Analyze of the Crypto Investing in November, 2022

Date: Nov 07,2022-Nov 11, 2022

This week, the crypto market has experienced a rapid decline under the influence of news.

BTC’s weekly structure broke out of the third period of decline. After the daily line fell back, the decline accelerated, breaking the lower edge of the range and hitting a new low. The index rebounded on Thursday on expectations of slower rate hikes. Although it cannot reverse the downward trend, it can at least be repaired by relying on the previous low. The support range is 16000–16400, and the resistance range is 18000–18500.

ETH’s weekly line broke through the previous swing low but did not make a new low. Instead, it reached the previous low consolidation area, and the trend was stronger than the broader market. However, the exchange rate of Ethereum against Bitcoin is in a high resistance area, so there is an expectation of compensation. If the daily line does not break below 1150 for the second time, it will continue the rebound trend, with a support range of 1140–1170. Otherwise, the downtrend extension will test the 1000 mark support. The critical position is 1300, and the resistance range is 1380–1420.

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(All for reference only, plz invest rationally)

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