The election is approaching, and the non-farm data $BTC is choosing which direction to break through?
November 1, 2024 BTC trend analysis (technical level) Leaving the level of trading equals to zero, so before trading, one must determine what level of orders they are placing to find precise buying and selling points based on that level.
BTC daily level: A complete upward segment on the daily chart with an internal divergence pullback is a normal pullback.
Precaution: After the pullback of a segment that ends the upward daily level, it continues to push higher (Figure 1)
4-hour level: The downward movement on the 4-hour level is quite strong, and a rebound leads to a secondary sell on the 30-minute sub-level, indicating a high probability of a segment on the 4-hour level (Figure 2)
30-minute level: The short-term opportunity on the 30-minute chart shows a downward segment a, not entering the center, resulting in a 30-minute three-buy, aiming for a short-term rebound b (the internal structure comparison shows divergence)
Precaution: Prevent the 30-minute rebound segment b from breaking the high point; if it does not break the high point and a secondary sell occurs, the position bought at the three-buy point should exit.
Reason: The large level internal structure is complete, and the divergence is at a high point; I never enter positions at such high levels, so it's essential to determine what level of orders one is placing. If trading short-term, don't fantasize about profits from large levels; once a selling point appears, one must run away! (Figure 2)
