November 8, 2024 Market Analysis of $BTC (Technical Perspective)
$BTC 4 Hourly Level: BTC 4-hour looks at a correction in a larger daily and weekly trend that continues to be bullish without a top formation. This wave of increase has not ended! (Figure 1)
$BTC 30 Minutes: Yesterday it was mentioned that there would be a correction, but today it continued to rise slightly. The increase did not see significant volume, indicating a high risk of short-term correction. From the MACD perspective, the internal two pullbacks of the 30-minute upward trend show that the green bars on the zero axis are continuously shrinking, which is a sign of short-term exhaustion for the bulls. A correction in the 30-minute timeframe is inevitable (Figure 2)
