Academician of the Cryptocurrency Circle: On November 14, a Bitcoin (BTC) oversold signal appeared, but will the bearish pattern really come to an end?

When a big bearish candle drops, the two easiest mistakes to make are: either to panic and cut losses at the lowest point, or to rush to buy in the middle of a decline. The points on the chart are fixed, but human mentality is dynamic. For short-term trading, strictly follow the signals for entry and exit; for swing trading, pay less attention to the 4-hour fluctuations. Don't borrow money, don't increase positions to average down, and don't put all your margin in one direction. The text is just a review of the market and does not constitute any investment advice. Contracts are high-risk; think clearly before putting real money in. You are responsible for your own profits and losses.

The daily candlestick has fallen below the EMA15, EMA30, EMA60, and all short to medium-term moving averages, which are arranged bearishly and exerting pressure. The lower band of the Bollinger Bands at 70432 has been broken, and the price is operating outside the lower band. On the MACD side, bullish momentum continues to be suppressed. The TD Sequential shows a '9' on the daily chart, indicating short-term oversold signs. However, until it can regain key moving averages and the lower Bollinger band, the daily level remains bearish, and any bounce should be viewed as a correction following a decline.

The four-hour candlestick is below EMA15 at 71093, EMA30 at 72598, and EMA60 at 74345. The short to medium-term moving averages are diverging downward, and any potential rebound faces multiple layers of resistance above. The Bollinger Bands are opening downwards, with the price approaching the lower band at 68044, and the middle band at 76353 is moving downwards. The MACD's downward slope has slowed down; the TD Sequential has shown a '9' at the low, which serves as an observation signal following short-term overselling, indicating that after further downward movement, a technical rebound may occur. However, whether the rebound can sustain will depend on the volume and the recovery of the moving averages.

Short-term reference:

Resistance from 67500 to 67000 on the way down, stop loss at 500 points, target at 68500 to 70000.

Resistance from 71200 to 71700 on the way up, stop loss at 500 points, target at 70000 to 69000.

The specific operations should rely mainly on real-time market data, and for more detailed information, feel free to contact the author. The publication of this article may be delayed; it's recommended for reference only, and the risk is borne by the reader.

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