24/11/04 BTC weekly hammer candle, re-testing the ascending flag, patiently awaiting election results.
The weekly hammer candle has formed with a significant volume, and the previous high resistance is still quite large. Whether it follows the path of the immortal depends on whether the upcoming recovery can break through the previous high. If it rebounds to 71600 and 73660 again and still cannot break through, the probability of a significant drop remains high.
In terms of news, do not watch, whether it's non-farm data or who can enter the White House after the election, data and news can be manipulated, ultimately it still returns to the chart. Just pay attention to the time node, preliminary election results will be finalized on November 6th at 12:00.
Bitcoin
After breaking below 68800 on the 4-hour chart, it has returned above 69100 as of this writing. If it can continue to stay above 69500, there is a chance to challenge 71600 and the previous high again. Note that if it cannot create a new high multiple times, the risk increases.
The daily price has re-tested the ascending flag, which is also supported by the middle Bollinger Band. For the day, pay attention to the recent resistance at 70500 and 71600, with a stop loss at 67489 that should not be broken again.
Support:
Resistance:
Ether
The weekly closing for Ether is relatively weak, forming an engulfing pattern, and last week it closed with a hammer candle. Pay attention to the lower trendline of the daily converging triangle, which should not be broken.
The 4-hour chart shows a divergence but the price has not reclaimed above 2500, which is relatively weak. In spot trading, even if the head position stop loss cannot break below 2411.
Support:
Resistance:
