November 16th Market Analysis from LBank Derivatives
BTC
BTC’s short-term support is 16,200–16,500 US dollars, short-term resistance is 17,200–17,500 US dollars. The three major U.S. stock indexes have rebounded a lot, and at the same time, the impact of FTX is still endless. In fact, the event itself will not have too many secrets. How to prevent it in the future is the big deal.
Resistance level to watch out for: $17.5k
Support level to watch out for: $16.5k
ETH
ETH short-term support is $1180–1230, and short-term pressure is $1280–1300. ETH’s trend is stronger than that of BTC. From a morphological point of view, it has formed a platform. Pay attention to whether the pressure of 1300 can break through, and a strong break is bullish, otherwise, it is bearish.
Resistance level to watch out for: $1300
Support level to watch out for: $1230
LBank perpetual contracts are settled in USDT and are not inverse contracts. There is no expiration or settlement of perpetual Contracts. Now we have BTC perp, ETH perp, Dot perp, Sol perp, and other over 100 kinds of popular coins online. The available leverage is between 1–125. One of the key benefits of USDT-settled contracts is that you can easily calculate your returns in fiat. When the market suffers a wild fluctuation, this tool can help you lower your risk.
Click here to download it for iOS or Android
Website: https://lbank.com
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/
