November 6 Evening Bitcoin and Ethereum Market Analysis and Trading Strategy

Currently, market momentum has significantly weakened, with volatility continuously contracting, indicating a need for a consolidation phase. On the four-hour chart, the price is weakly hovering below the middle band of the Bollinger Bands, with alternating small bullish and bearish candles, and long upper and lower shadows, reflecting a restless market sentiment. The hourly chart shows sideways consolidation with rapid shifts between bulls and bears, frequent alternation between positive and negative candles, and the market has reached a critical turning point. The previous decline broke the market’s stability, and short-term panic sentiment has not fully dissipated; some funds remain on the sidelines. Therefore, the suggested approach is to focus on short-term trades, seize immediate opportunities, and respond flexibly to market fluctuations.

In the short term, after encountering resistance at high levels, the market is undergoing profit-taking consolidation without breaking the recent sideways upward trend. After a sharp move, avoid chasing the market higher, as it may lead to buying at the top; similarly, do not chase short positions during sharp declines. This is a sideways market, and without significant catalysts, it will likely remain range-bound.

Bitcoin: Buy near 102,000–102,500, target 103,500
Ethereum: Buy in the 3,320–3,370 range, target 3,420