The bears are showing weakness, and the bulls are showing signs of emerging. Pay attention to this position. Today’s closing line may decide to converge and break through at the end of the market
Today is the first day of the opening of the November line, and the monthly line of October is also closed this morning. Usually, we need to do an overall review of the disk on the first day of each week/month. Look at the above How does the price move in a cycle, are there any key positions that are broken/supported/pressured, are there any key event trading opportunities, etc., through reviewing the history, we will have an overall systematic view of the market from the big cycle cognition, and then continue to narrow the analysis cycle, from month-week-day to hourly level, and constantly filter layer by layer, and finally get the trading opportunities that can be operated. In this way, the success rate of the transaction will be higher, rather than It is unreasonable to trade as you please.
BTC
In terms of the monthly line level, October inherited the bullish market in the first half of the year and was broken by the double pregnancy line. The price closed at 8356 in September and continued to test downwards to around 7238. Finally, due to the favorable fundamentals, the price It rose back to 10817, but it was still not higher than the September high of 11080. The high point continued to decline, and the low point hit a new low. Although the monthly line received a small entity positive K of about 50%, it still does not meet the conditions for long positions. It can only show that the bears here (around 7600) have been strongly counterattacked by the bulls, and the supply is constantly being consumed. Although the remaining strength is still there, it is still not suitable for long intervention.
From a weekly perspective, the typical upward trend line is broken and forms a new resistance level. At the same time, 10409 is a very critical supply zone. As mentioned in the article before, the formation of a trend requires inertia. When a position has a large amount of Gathering short positions and being effectively broken through at the same time, the probability of the price returning to this area again and directly breaking through is very small. This time the fundamental information is undoubtedly a black swan, and many short positions should suffer heavy losses. From the perspective of the disk, the vicinity of 10409 can be said to be a watershed between long and short. Once the closing price can be closed at a relatively good position this week, it will combine with the bus line to form a pregnant line. It may directly open the second wave of bull market upwards, the key depends on the position of the closing line this week and the direction of breakthrough next week.
The daily line level is different from the previous unilateral decline. Although the lows are constantly hitting new lows, yesterday’s closing line closed with a cross star almost in the middle, and its volume is similar to the previous day, indicating long and short The power is balanced here, the original supply of the seller is continuously consumed, and there is no new order intervention. The demand of the bulls does not need a particularly large amount to maintain a relatively balanced state with the seller. It is said that it is a manifestation of the weakness of the bears. If the price does not break the new low today and starts to rise and rise, then we can consider intervening in long orders.
At a smaller level, we find that the current price is at the end of the convergent market. Although it is the background of bulls in the short term, the strength of the seller is constantly weakening in the big cycle. There is no new force to intervene. It is expected to break through upwards. Whether it can break through the previous high depends on today’s closing Line, the long target first sees the previous high around 11,000, if it breaks down, it will get short-term support in the 8700-8300 range, just step back and go short.
ETH
The decline converges in the wide range of shocks. Before the price breaks through the lower support 178 and the upper pressure 198, it will be viewed as a volatile market. Pay attention to the long opportunities around 178. The upper pressure is 197-203. You can sell high and buy low in this range. Can
EOS
It is basically the same as ETH, except that the bulls will be more aggressive. It is best to wait for the opportunity to stabilize around 3.11 and intervene in long positions, and at the same time reduce positions this morning to protect and lock in profits.
