November 28th Market Analysis from LBank Derivatives

Market Analysis

BTC

Currently, the BTC(BTC/USD) price got rejected at $16800 and we are expecting the price to move down to retest the support at $16120 or even the bottom of the range. If it happens it may be a good entry for a long position.

Resistance level to watch out for: $17.1k

Support level to watch out for: $16.1k

ETH

Ethereum’s (ETH/USD) price is now trading close to the support level and support line. The price can bounce back and start moving up. After the retest support level, the price is expected to start moving up and reach the resistance line. Therefore, I set the goal for Ethereum at 1215, coinciding with the resistance line.

Resistance level to watch out for: $1215

Support level to watch out for: $1150

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