đ BTC MARKET VIEW | 09:16 â NOV 06
Kenny Choi
BTC is currently trading around $76.1K, continuing to consolidate around a key daily support zone, which also marks the short-term low following last night's sharp sell-off.
Yesterday's market view played out as expected. Both the short-term and extended short scenarios targeting the $75K area have successfully reached their full targets.
đ Technical Analysis
15M â 1H: BTC is showing a short-term recovery from the lows, with signs of weakening buying momentum. The next upside target is the nearby liquidation zone and POC around $76.9K â $77.2K.
4H â 1D: The market structure has shifted back into a downtrend, with bearish momentum still intact.
The market may now be entering a temporary consolidation phase to build up fresh liquidity before reacting to tonight's news and weekend volatility.
For now, sideways movement is the more likely scenario, with a potential liquidity sweep during the evening session.
đŻ Expected Trading Scenarios
đą SHORT-TERM LONG â Morning/Afternoon Session
Target entry: $75.6K
Target: $77K
Close the position before the evening session.
đŽ EXTENDED SHORT â Swing Trade
Entry zone: $77.2K â $77.5K
Keep position size relatively small.
Gradually move SL into profit as price develops, following the same strategy as yesterday.
â ïž Risk Management: Prioritize capital preservation. Avoid holding short-term positions into the evening session. The market is currently at a sensitive level, so stay flexible and react to price action rather than becoming attached to one directional bias.
Kenny Choi | GoatCryptoGains đ
$BTC
Kenny Choi
BTC is currently trading around $76.1K, continuing to consolidate around a key daily support zone, which also marks the short-term low following last night's sharp sell-off.
Yesterday's market view played out as expected. Both the short-term and extended short scenarios targeting the $75K area have successfully reached their full targets.
đ Technical Analysis
15M â 1H: BTC is showing a short-term recovery from the lows, with signs of weakening buying momentum. The next upside target is the nearby liquidation zone and POC around $76.9K â $77.2K.
4H â 1D: The market structure has shifted back into a downtrend, with bearish momentum still intact.
The market may now be entering a temporary consolidation phase to build up fresh liquidity before reacting to tonight's news and weekend volatility.
For now, sideways movement is the more likely scenario, with a potential liquidity sweep during the evening session.
đŻ Expected Trading Scenarios
đą SHORT-TERM LONG â Morning/Afternoon Session
Target entry: $75.6K
Target: $77K
Close the position before the evening session.
đŽ EXTENDED SHORT â Swing Trade
Entry zone: $77.2K â $77.5K
Keep position size relatively small.
Gradually move SL into profit as price develops, following the same strategy as yesterday.
â ïž Risk Management: Prioritize capital preservation. Avoid holding short-term positions into the evening session. The market is currently at a sensitive level, so stay flexible and react to price action rather than becoming attached to one directional bias.
Kenny Choi | GoatCryptoGains đ
$BTC