Monday, November 8th, Morning Thoughts

We have now entered a new week, are you ready? Wishing everyone good luck! From the current market perspective, market sentiment is gradually warming up. Overnight, Bitcoin slightly pulled back to 118,000 but did not break below and then rebounded upwards. Currently, the price is above 119,000, with bulls dominating the trend.

From a technical structure, the market is moving upwards in a bullish pattern. Any slight pullback will be strongly suppressed by the bulls. The 4-hour chart shows a series of bullish candles moving upwards, overall forming a large V pattern. Currently, there are no obvious signs of a reversal in the short term. In the future market, first pay attention to the breakout situation at 119,500-120,000. If it breaks, go long with the trend; if it doesn't break, rely on the high to go short, and then go long after a drop.

Morning reference for shorting in the 119,500-120,000 area, watch 118,000. If it breaks down, continue to look down at 117,000. If it doesn't break, reverse to long and look back at 120,000.$BTC