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CoinDaily Today’s Analysis – BCH

The lowest point of BCH in the second half of this year appeared on August 16. Since then, it has been slowly climbing along the ascending channel. However, the recent decline has actually fallen below the channel. If it cannot return to the channel immediately in the short term, the next The market will most likely continue to drop in search of support.
Switching to the weekly level, BCH experienced a driving wave in June, and then began to stall until now. Judging from the overall trend, BCH's rising market should not be over yet, especially considering that the halving is coming in less than five months, and there is still a halving market that can be hyped. If there is a chance that BCH will return below $180 in the near future, you can consider stepping into some spot positions to take advantage of the halving hype opportunity. However, it should also be noted that since the consolidation began in July, the maximum retracement of BCH has been close to 70% of the increase, indicating that the entire bull market is not stable, so even if there is a rising market in the future, it may not last long. It would be too long.
The green line area is the lifeline of BCH. If it falls below this, the entire rising market this year will be completely over. The red line area is the intensive distribution area of ​​chips since the last bull market, and it is also the maximum pressure level. Only if it breaks through the red line area, BCH will have a chance. A real bull market may be in store. The current price may still fluctuate up and down between the red line and the green line area, and it is expected that after the wash is over, it is more likely to rise than to fall.

In the analysis of ETH on November 15, it was mentioned that the decline of ETH has not yet ended, and the suggestion was given to enter long orders at the yellow box and blue line. Although the market rebounded subsequently, it soon continued to decline and fell all the way to $1,904 before rebounding. The lowest price point just reached the upper edge of the yellow box marked on the chart.
Although the current price of ETH has returned to above $2,000 again, the trend is not optimistic. First of all, the daily MACD indicator is currently at a high level and has not been fully adjusted. The short-term market may continue to fluctuate up and down. If it rises again in the short term and exceeds the high of 2137 on November 10, there is a high probability that a divergence will form again, and the subsequent decline may be even greater.
The white line is the trend line of ETH's entire upward trend this year. Currently, ETH is trying to move closer to the white line. We continue to maintain the view that the price will stop rising and start falling after touching (or getting infinitely close to) the white line.
Returning to the short-term level, the blue line is the trend line since the start of the uptrend in October. The blue line has now been broken down, and the price is trying to approach the blue line again after starting to rebound. The yellow line is a short-term chip intensive distribution area. It is expected that the price will encounter certain resistance after touching the blue line, but it is not recommended to go short here. The better idea at present is still to try to intervene in long orders at low levels.
The area near the white trend line is still a potential pressure level. You can try to intervene in short orders here. If the market strongly breaks through the white line, you should stop the loss in time.
If the market returns to a downward trend, continue to use the yellow box area as the first point to intervene in long orders, and the blue line as the second reference point. If the blue line falls below, the loss should be stopped in time.

In the previous analysis, we mentioned that ETH may rise to a new high this year in the near future. ETH began to fall after reaching a high of $2,137 on November 10, just one step away from the previous high of $2,142 during the year. Judging from the market, ETH's market trend from November 10 to the present is in the relay stage of rising. Some current data show that ETH may be ready to start a short-term rally again, targeting a new high this year.

Recently, the price of ETH has continuously stepped back on the upward trend line and gained support, confirming the validity of this line. After adjusting back from the high dead cross to the zero axis, the 1-hour MACD indicator has once again formed a golden cross and intends to launch an attack upwards. In addition, the OBV indicator also shows an upward trend simultaneously, which is a bull signal.

According to our previous plan, if we opened a long position at $1910, we can take profit at any time above $2142; if we are willing to take a little more risk, we can take profit at $2200.

If you don't have long orders at the moment, you can take a small position to capitalize on the final rising market. You can open a position directly at the market price of $2,055, with a stop loss price of $2,030. If the price reaches above $2,150, you can take profits at any time.

It should be emphasized that this is only a short-term long opportunity. We expect that the market may turn around at any time after rising above $2,142, or may be beaten back after touching the red line, which is $2,200, and then the market will enter a consolidation stage at the daily level.

In the analysis of ETH on November 10, it was proposed that the recent trend of ETH is traveling along an upward channel, and there are signs of breaking through the channel at any time and starting a new round of rise. About 3 hours later, ETH indeed broke through the channel and rose to a maximum of 2136. ETH surged higher and fell back this morning, and the current price is still fluctuating around $2,100. The 1-hour MACD indicator has already crossed, which means that the short-term rising market is basically coming to an end, and the rise may end at any time. A downward trend in the OBV indicator is also a danger signal. Since the highest point reached by ETH today is 2136.5, which is still one step away from the highest point of the year of 2142.9 on April 16, it is expected that ETH will continue to break through the price of 2142.9 tonight or tomorrow, setting a new high for the year. point, and then the price begins to adjust back down. The yellow line below is the first support level, and the blue line is the second support level.

ORDI, the hot currency in May, almost doubled in price within 24 hours because it was listed on Binance last night. Regarding the development prospects of ORDI and BRC20, it has also been a hot topic on major media platforms in the circle in the past two days. We will talk about this again when we find an opportunity.
Looking simply at the currency ORDI, before the news of its listing on Binance was announced, it started to rise along with the market from the bottom of 3 US dollars in mid-October, and reached a maximum of 5.9. The increase has nearly doubled, and it is one of the few that outperformed Bitcoin. One of the cottages. After being listed on Binance yesterday, ORDI accelerated its rise again, almost reaching its highest point when OKX was first launched. The price range of 13-17 US dollars is the chip distribution area for the May holdup on OK. It is normal for the current price to hit this point (the red line position) and be blocked from rising.
Judging from the daily level technical indicators, today's K-line jumped directly above the upper Bollinger Band and opened higher, which also shows that the market has risen too fast in the short term, and there is currently a need to fall back and adjust. The area near the yellow circle is a potential callback position, but it also depends on whether the market can get effective support after reaching here.
Looking back at the short-term, the 1-hour MACD has formed a dead cross, but the market is still going strong. A new price high may appear after this dead cross, and then the real adjustment begins.

According to CoinDaily's analysis of DOT on October 31, it is believed that DOT's 4-hour MACD has a top divergence, and the price is suppressed near the downward trend line, and will usher in a short-term decline. After that, the price of DOT did start to fall back, but it only reached the lowest level of 4.27 before rebounding, and it also rose above the downward trend line.
Judging from the trend, there are no signs of the current upward trend of DOT ending, but considering that the price of Bitcoin has begun to decline, DOT may also start to follow Bitcoin and fall back in the near future. We need to pay attention to the position of the yellow line, which may be the range where the price of DOT may fall back. If DOT successfully steps back on the downward trend line and starts to rebound, you should intervene in long orders again at this time.
After waiting for the price of DOT to start to fall back, buy it near the yellow line, with the position between 4.5-4.6, and the stop loss price is 4.4.

After TIA was listed on the exchange, it was sought after by a large number of users. It once reached around $2.87 today, but the price has now begun to fall. CoinDaily released TIA’s analysis as soon as possible and gave a short-selling recommendation at $2.77. According to the quotation of Binance Exchange, TIA’s price has just reached a minimum of $2.42 during the decline, and the maximum profit of short orders has reached 12.6%.

As we all know, the magical law of "any gap must be filled" has been circulated in the market. Bitcoin opened higher today on CME, leaving a gap of 34160-34750. The gap is currently being filled, but has not yet been completely filled. Based on the experience of "filling the gap", the probability that Bitcoin will fall back to around 34160 this week to fill the gap is very high. After filling the gap, there is a high probability that it will continue to rise, so those who are not on board can consider filling up some spot near the gap. Of course, if the price pulls back, it may not stop falling when it reaches 34160, and may continue to fall a little before starting to rebound, so the safer approach is to start placing orders in batches from below 34160. #BTC