Date: November 3, 2024
The bearish trend may continue; pay attention to whether the support level below can form effective support.
Technical Analysis
Daily Level: Yesterday closed with a small doji, the CCI indicator did not give a signal to stop falling, and the MACD continues to show a death cross pattern. The current trend is still a continuation of the bearish trend. Pay attention to whether the key long-short battle near the EMA15 moving average can stop falling and form a rebound (around 68800). If it breaks below the EMA15 moving average, the bearish target looks towards the bottom accumulation area (around 66000) and the daily Vegas channel (around 63200). If it rebounds after forming a bottom near the EMA15 moving average, pay attention to the previous high (around 73700).
4-Hour Level: The bottom structure of the 4-hour level was broken yesterday, and the EMA15 has reformed resistance. The CCI has not given a bottoming signal in the +100 to -100 range, and the MACD shows a death cross below 0 indicating an acceleration of bearish expectations; the current trend is still bearish. Pay attention to the upper support of the Vegas channel below (around 67600) and the EMA233 moving average (around 60000). If the market wants to signal a shift from bearish to bullish, the subsequent trend needs to effectively break above the 4-hour EMA15 moving average (around 69800).
Simplified Version
Currency: BTC
Date: November 3, 2024
Technical Analysis:
Indicators: EMA15 + Vegas Channel + CCI + MACD
Conclusion: Bearish trend unchanged; pay attention to key support levels.
Resistance Levels: ① Around 69800
② Around 73700
Support Levels: ① Around 68800
② Around 66000
③ Around 63200
