Welcome to our latest crypto market outlook for November 13th!
It’s been almost a week since Trump became president, and the market isn’t taking a break. Are you still HODLing? If so, which altcoins are your favorites? Here are mine for this week: CETUS, ZK, FLOW, ETC, and OM.
Today, we will cover the following topics:
- USDT.D and BTC Analysis
- 5 Altcoins Analysis
- Quotes / Advices
- Closing Remarks
USDT.D and BTC analysis
According to our latest USDT.D analysis, USDT.D has been losing momentum after breaking below the 5% round number.
The next support level is around the 4% round number, so a correction is expected soon.
The bears will remain in control as long as USDT.D continues to trade within the falling channel in orange from a short-term perspective.
If the recent high at 4.54% is broken to the upside, a bullish correction toward the 5% level would be expected.
BTC has been breaking every possible resistance this week, reaching a new all-time high at the $90,000 round number. Are we going to see a six-figure price for BTC soon?
The next resistance is the upper bound of the channel marked in orange, which aligns perfectly with the $100,000 level.
As BTC retests the red trendline and the $80,000–$82,000 zone, this could be an ideal area to consider trend-following long positions.
As outlined in our previous market outlook, BTC is expected to remain bullish both long-term and short-term as long as it holds above the $80,000 level.
5 Altcoins Analysis
Starting with CETUS, it surged impressively last week by over 200%.
Currently, CETUS is in a correction phase and is encountering a massive demand zone marked in blue, showing signs of rejection at this level.
The correction phase is engulfed within the falling channel marked in red.
For the bulls to regain control and initiate the next upward impulse toward $0.50, a break above the recent high at $0.343 is needed.
ZK has been trading within a large range shaped as an ascending triangle. If the upper bound of the triangle at $0.163 is broken to the upside, an explosive movement toward the $0.22 resistance level is likely.
On the other hand, if it retests the lower bound of the pattern around the $0.123 level, we’ll be looking for short-term trend-following long opportunities.
Next is FLOW. It has been hovering within a clear range between $0.50 and $0.64.
For the bulls to take control in the long term, a break above the upper bound of the range at $0.64 is needed.
Meanwhile, if it retests the $0.50 round number, we will look for short-term buy setups again.
Analyzing ETC, it has already broken above the accumulation phase marked in red, according to our latest ETC update.
Since it is retesting the structure and the $20 round number, which is also a demand zone, we will be looking for trend-following long positions.
For the bullish impulse to activate, a break above the orange channel and the $22.4 mark is needed.
Meanwhile, ETC remains bearish in the short term and may still retest the $20 round number.
Finally, looking at OM, it has been one of the strongest altcoins, still hovering around its all-time high.
For a long-term position, OM would need to retest the lower bound of the red wedge pattern.
From a medium-term perspective on the 4H timeframe, OM has been trading within a rising flat channel marked in orange.
As it approaches the lower boundary of the range, we’ll be looking for additional confirmation to go long.
Quotes / Advices
In trading, you have to be defensive and aggressive at the same time.
~Stan Druckenmiller
Closing Remarks
In summary, USDT.D shows signs of weakening momentum below the 5% level, with possible support at 4%, while BTC is hitting new highs, reaching $90,000, with potential to test six figures soon.
CETUS experienced a strong surge last week but is now in a correction phase, with potential for a bullish impulse if it breaks above $0.343.
ZK is trading in an ascending triangle, where a breakout above $0.163 could lead to a push toward $0.22.
FLOW continues to hover within a stable range; bulls need a breakout above $0.64 for a long-term trend shift.
ETC has moved above its accumulation zone and is testing support at $20; a bullish impulse awaits a break above $22.4.
Lastly, OM remains near its all-time high but may present long-term opportunities if it retests the lower bound of its wedge pattern.
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