[November 17 Market Analysis: Weekly Crisis, the Prelude to a Bear Market]

Last week's weekly closing has come to an end. After 2 years and 8 months, Bitcoin's weekly line has finally broken below the MA50 moving average, and it was a large bearish candle that broke the level directly. It can be said that on the weekly level, the curtain of a small Bear Market has already begun. According to the movement of the moving averages, this could lead Bitcoin towards the weekly MA120 trend, meaning that Bitcoin starting with 80k is very likely to be seen this year.

$BTC Today's short-term resistance zone for Bitcoin is between 97100-97300. After breaking above, the pressure is at 98450. As long as these two levels are not breached, the market will not be very strong. The short-term support below is at 92300, and if it breaks again, we can look at the daily level support between 8.6-8.7.

$SOL Today, a key inflection point for the bulls and bears is at 149. If it can rise again, the pressure will be at 158. The two daily support levels below are 129 and 113. Friends who are stuck with spot positions can refer to these two levels to lower their average price. In fact, the spot trading has been advising you to liquidate since the end of October, and the market has provided several opportunities to lure buyers, but not many people took action. So, it's just wasting time and costs waiting to break even.

$ETH The entire Ethereum today has a bullish-bearish watershed at the pressure point of 3330, with daily support levels at 2848-2822 below. Ethereum will definitely drop faster than Bitcoin and Litecoin, so positions should be lightened. The chances for Ethereum starting with the number 2 look very high right now.

In summary, the weekly chart has basically pronounced a death sentence for the entire market. Unless there is a miracle this week, we can expect a big coin starting with the number 8 for the remainder of the year. The important resistance level can still be engaged in speculation, and although the fear index is low in the short term, it is not at its lowest point, as it hasn’t even reached single digits yet. (Follow the department head for daily updates on market analysis and precise entry points. Long and short positions are for B friends' reference only; strict stop-loss and take-profit measures are advised.