【11.4 Bitcoin Market Analysis】

Yesterday, BTC closed with a solid bearish candle, with the closing price located below the middle band of the daily Bollinger Bands, breaking below the middle band. The daily top MA5-10 day moving averages formed a death cross around 69300, indicating a bearish bias for the day. This is also a short-term pressure point at this stage. Pay attention to this point; if the daily closing price at 12 AM is below this level, then a decline is expected tomorrow. Conversely, if it closes above, this short-term pullback may have ended, leading to a bullish recovery, potentially reaching 71000-72000 before considering a decline.

Personal speculation: The market this week may first see a small wave of increase, then decline after the election news emerges, and then wait for the interest rate cut confirmation on November 9th to continue rising, breaking historical highs.

【11.4 Bitcoin Trading Strategy Reference】

Long Position: A short-term long position can be entered during the first pullback near 68600, with a small stop-loss looking to exit in batches around 69300-70000.

Short Position: Enter a short position during upward spikes around 70200-70400, with a stop-loss at 70800, looking to exit in batches down to 68500-67000.

Additionally, for those with the means, trend-based trading setups can consider entering spot and contract positions at this month's pullback levels of 65000-63000, aiming for historical highs!

Sometimes, it is really difficult to express the meaning behind many things; it is hard to predict market changes. You may be bullish, but the main forces can drop first and then rise, or rise first and then drop, but the outcome is certain: there is a certain probability of rising or falling. Trying to analyze whether the market will drop first and then rise or rise first and then drop can only lead to being tossed around by the main forces. Moreover, in front of the market, the main forces are just small players; why care too much?

—— I am Coin King Legend【a teacher focused on analysis】 Anyone with questions about operations or trends can communicate and learn with me! Let's share and profit together!