🪲Market insights for the afternoon of November 7th.🪲
$BTC 's viewpoint:
Bitcoin has once again reached a historical high, and the altcoin season that everyone is anticipating may truly be upon us. As long as Bitcoin continues to maintain its high position without needing to be pushed up, the altcoin sector will start to rotate.
Bitcoin has broken through the 106056 hourly level with volume, closing above 106056 on the right side for a long position, with a stop loss if it breaks down.
If it drops below 104929 with volume and fails to recover, look for a short position on the right side, and set a stop loss if it recovers. Pay attention to changes in volume and ensure to set stop losses.
If a false breakdown occurs at 113819, add one more long position. Set a stop loss at the low of the false breakdown or if it breaks 112972. If it doesn't recover, don't go long.
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Bitcoin has stabilized at the hourly level of 116081, continuing to look upward towards 117450-118221. The bears have been honest this time, right?
When shorting Bitcoin, be cautious of a 2B false breakout at 117578 and short one position. If it breaks and stabilizes above 118371, set a stop loss.
Conservative players should wait: long at 112030, with a stop loss below 110869.
The wedge pattern at the 4-hour level for Bitcoin has already been broken. Note that this is a 4-hour level wedge pattern; you can only short briefly until it drops back into the wedge pattern.
Because there is no heavy resistance above Bitcoin, how high it can go will depend on Bitcoin's sentiment. Don't think that just because Bitcoin has risen so high, you can short it; it's not as simple as you think. There is nothing it cannot achieve that you haven't thought of.
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Upper resistance: 116808-117902-121181
Lower support: 115206-113783-112055
If the 4-hour level drops below 115263, look downward towards 113873-112104. How are the bearish leaders doing? Is your head buzzing?
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$ETH 's thought process:
The second Bitcoin breaks through 2964 with volume, look for a long position on the right side, with a stop loss if it recovers.
If it drops below 2953 with volume, look for a short position, and set a stop loss.
If it retraces to 2881 and confirms support, add one more long position, with a stop loss below 2836.
The second Bitcoin has stabilized at the hourly level of 3020, looking upward towards 3096-3150.
Be cautious of a short position if it reaches 3070 above, and set a stop loss if it breaks 3108.
Left-side orders: long at 2825, with a stop loss below 2794.
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Upper resistance: 2993-3020-3096
Lower support: 2915-2838-2796
If the 4-hour level drops below 2913, look downward towards 2841-2797.
The second Bitcoin's daily moving average lines have returned above the zero axis, indicating bullish control. You should focus on long positions during pullbacks, rather than trying to guess the top and shorting, meeting adjourned.