Cryptocurrency Scholar: On November 14, a Bitcoin (BTC) oversold signal appeared, but will the bearish trend really come to an end?
A big bearish candle has dropped, making it easy to make two mistakes: either panic and sell at the lowest point or rush to buy halfway up. The points on the chart are fixed, but human emotions are dynamic. For short-term trading, strictly enter and exit according to signals; for swing trading, try to look at the 4-hour fluctuations more calmly. Do not borrow money, do not increase positions to average down, and do not put all margin on one side. The text is only a review of the market and does not constitute any investment advice. Contracts carry high risks; think clearly before entering with real money, as you are responsible for your own profits and losses.
The daily candlestick has fallen below all short- to medium-term moving averages like EMA15, EMA30, and EMA60, with the moving averages showing a bearish arrangement. The lower Bollinger Band at 70432 has been broken, and the price is running outside the lower band. On the MACD front, bullish momentum continues to be suppressed. The TD sequence on the daily chart shows a 9, indicating short-term oversold signs, but until it recovers back to key moving averages and the lower Bollinger Band, the daily level remains weak, and any rebound should be viewed more as a correction after the decline.
On the 4-hour chart, the price is below EMA15 at 71093, EMA30 at 72598, and EMA60 at 74345, with the short- to medium-term moving averages diverging downwards, and the rebound facing layers of resistance above. The Bollinger Bands are opening downwards, with the price close to the lower band at 68044, while the middle band is moving down to 76353. The MACD's declining slope has slowed down; the TD sequence shows a 9 at a low level, indicating a short-term observation signal after being oversold, suggesting that after further decline, there might be a technical rebound, but whether the rebound can continue depends on volume and the recovery of moving averages.
Short-term reference:
Moving north, resistance at 67500 to 67000, stop loss at 500 points, target at 68500 to 70000.
Moving south, stagnation at 71200 to 71700, stop loss at 500 points, target at 70000 to 69000.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. The article may be published with a delay, and suggestions are for reference only; risks are self-borne.
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