November 2 Market Analysis

Yesterday's trades were successful with two positions taken. The long-term major coin is still being held.

Hello everyone, I am your blockchain brother. #你问我答 $BTC $ETH

Today, the focus is still on short-term analysis, with specific directions referencing previous videos and text.

Analyzing from the pattern; on the 12-hour level, we are still in a head and shoulders top, with the bottom of the head around 67000, which means it is highly probable

that we will fill this gap today. The starting point of the head is around 67300.

So the main direction is still bearish!

Looking at the smaller cycles to find entry points; the 4-hour upward wave has not yet completed, and from the MACD, the 4-hour is forming a golden cross upwards,

combined with the Fibonacci 0.5 to 0.618 range at 70200~70500, so I think these two points are very good entry points that are also at trend resistance levels,

with the RSI and KDJ on the 4h level also moving up, so we don’t need to rush; while waiting for the price to rise, we can open short positions, now I think we can go long but

prioritize stability and follow the main direction. On the hourly level, we wait for the market to rise, and then just set the short orders.

Let’s look at the thought process for Ethereum; ETH gives me the feeling that it is still very weak, simply put, the trading idea is to place a short order above 2527, target 2418,

with a stop loss around 2543, the support point of the 12-hour triangle consolidation.

Trading Ideas;

BTC; 70200~70500, direction bearish, target 67300, stop loss around 71000.

ETH; 2527, direction bearish, target 2418, stop loss 2543.

Today's Quote; What can be changed is called a flaw. What cannot be changed is called a weakness.