November 9th Market Analysis from LBank Derivatives
BTC
BTC showed a downward trend mainly affected by the news of FTX. It was stimulated by the news and fell sharply to 17000. Currently, the currency price is around 17XXX, and the four-hour level chart looks bad. It is expected to break a new low today, the overall trend is still bearish, and the market is expected to keep falling down recently.
Resistance level to watch out for: $18.5k
Support level to watch out for: $17k
ETH
The overall trend of ETH is the same as that of BTC. It was the most volatile day in recent months. It already breaks a new low today, the overall trend is still bearish, and the market is expected to keep falling recently.
Resistance level to watch out for: $1250
Support level to watch out for: $1000
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