Big cake 100120 in 101603 out, capturing 1483 points, earning 40,000 oil

November 6 Evening Thoughts:

Bitcoin reached a high of around 98,800 in the morning, confirming the upper range point and the resistance level. The morning showed a hesitant upward trend, and after reaching the high, it is currently slowly declining to reconfirm the lower range point. Due to the significant fluctuations in the early hours, the short-term rhythm of the overall market has slightly slowed down. At this moment, the price comparison has returned to the local correction range from the beginning of this week, and a very obvious doji candlestick has appeared on the weekly K chart, indicating that the intraday market will primarily see back-and-forth tug-of-war between bulls and bears. From the weekly chart, the adjustment space at the high has not yet ended; after the correction at the beginning of the week, attention should be paid to the possibility of encountering resistance again.

The 4-hour chart of Bitcoin quickly rebounded after hitting the bottom, successfully breaking through the resistance of the middle track, temporarily breaking the extremely weak downward trend on a short-term level, and forming a relatively long lower shadow. The elongation of the lower shadow indicates that there is relatively more short-term recovery space. Considering the hourly chart, a short-term rebound correction is expected first, with the upper resistance reconfirmed around 98,800. Given the strong demand for rebounds in the smaller cycles, multiple long positions laid out in the morning have all seen a pullback, and the high-retracement pattern has reappeared. In terms of intraday operations, a low long strategy is feasible, and simultaneously, short positions can be taken in conjunction with resistance levels during the session to match the oscillating correction market, which is also acceptable. Due to the large fluctuation base, there is also ample operating space; specific operations still need to be based on real-time conditions.

Bitcoin: Long near 97,500-98,000, target 99,300-99,800
Altcoin: Direct long at 3,860-3,830, target focusing on 3,950-4,000

#币安将上市ACX、ORCA #比特币回升至97K #ENA突破1美元 #SUI市场新焦点 #加密沙皇 $BTC $ETH