Analysis and Trading Suggestions for Bitcoin (BTC) on November 1st (Written at 1:41)
The current price of Bitcoin is around 109,000. The 4H channel continues to trend downward, and the lower boundary did not successfully close above during the day. The short-term resistance still faces pressure from the MA60 and the intersection of the middle track with MA120. The lower target continues to look at the lower boundary and yesterday's low. The MACD shows a shrinking red bar with weak momentum, and the failure of the DIF and DEA to converge indicates a secondary divergence. The KDJ and RSI have reached high levels during the day and are turning downward, suggesting that the downward space has not yet been fully explored!
In the daily chart, the BOLL channel is parallel, with the lower boundary remaining at the MA240 position. The current K-line is forming a hanging man. In the short term, we first look at whether the EMA200 can provide support. If it cannot hold, it will likely reach near yesterday's low. The MACD green bars are shrinking and approaching the 0 axis, and there has not yet been a significant increase in volume below. The DIF and DEA are hovering at the edge of a death cross. The suggestion is not to chase long positions; those who have not entered can wait for a rebound to enter short positions. If the weekend shows a consolidation pattern and confirms support below, a short-term long position can be considered!
Selling Points: Short lightly at ≥110,200, with a stop loss above 111,600. Take profit at 109,000-107,900-106,600. If it breaks below 106,500-106,000, you can continue to hold until around 105,100.
Buying Points: Long lightly at ≤106,600, with a stop loss below 106,000. Take profit at 1,000-2,000 points. For counter-trend long positions, keep the position light, and take profits promptly without being greedy.
There may be delays in article review and push notifications. The above points are for reference only; please grasp the timing of buying and selling yourself. When entering the market, ensure proper risk control and avoid heavy positions! Thank you for reading!
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Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope that in the days to come, you will always maintain a thirst for knowledge and a spirit of exploration for the unknown. Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and improving your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, I am cheering for you and looking forward to your wonderful performance. I wish everyone smooth sailing on the cryptocurrency journey and a bountiful return!
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