The current trend can be viewed in two ways: First, it is still in a 1-hour level consolidation, with no bias towards long or short positions (or leaning towards long, because the overall trend is upward), allowing for both long and short positions during the consolidation. Second, after reaching a new high, it is currently undergoing a downward correction in the 4-hour level, with some predictability, mainly favoring short positions. However, from an operational perspective, the difference between the two views is not significant. Let's look at the market situation.
4-hour level:
From the 4-hour level, the downward trend is still extending, so overall, short positions are preferred. Judging from the current extent of the pullback, it is far from reaching a turning point. Long positions need to be very cautious.
1-hour level:
At the 1-hour level, it can be relatively "lazy" to consider the current situation as being in a 1-hour level consolidation. Buy points can be sought after the end of the downward segment. However, consolidation requires a higher level of technical expertise, so long positions at the moment need to be very cautious.
15-minute level:
The downward trend at the 15-minute level corresponds to the internal structure of the downward segment at the 1-hour level. Judging from the current 15-minute downward trend, there is no obvious divergence, so long positions must wait for the right opportunity.
The evolution of the trend is ever-changing. Only by relying on a stable trading system and technical analysis can one navigate the market with ease. Treat the market as a training ground. Since it is training, there will definitely be failures (stop-losses). Therefore, maintaining a balanced mindset and seeking the most confident opportunities is the stable way to survive!
Simple terminology explanation:
Level: A unique concept in the theory of Chande, representing the market in two dimensions of time and space. The larger the level, the longer the time and the greater the volatility, usually including 4-hour level, 1-hour level, 30-minute level, etc.
Trend type: Divided into consolidation and trend, with upward and downward trends; each level has corresponding trend types.
Segment: The type of trend at a lower level, "a segment at a certain level" specifically refers to a segment.
The views in the article are for learning reference only and do not constitute investment advice.
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BTC Market Analysis on November 27, 2023: After reaching a new high, it returned to a consolidation market, still looking at the downward segment in the 4-hour level.
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