11.14 Lao Crab’s morning analysis of Bitcoin

Bitcoin has been trending lower since it surged higher. Is this the end of the market? Is it too early to make a decision now?

Looking back at the market, in Figure 1, from the perspective of the old crab, it is too early to comment before the formation of the daily level head and shoulders top right shoulder. The current situation is just a normal retracement after a rise, and the main force can only retrace its steps. Only when a wave of leeks comes down will they have a chance to enter the market.

news side

Tonight's US CPI data is released, and there may be opportunities to enter the market. Judging from past CPI data, it is better not to have too much expectations.

technical aspect

At the 6-hour level, the Bollinger Bands have narrowed and run parallel, and the currency price is below the middle track of the Bollinger Bands. MACD short positions have continued to increase, which shows that the decline has not stopped yet. KDJ third line opening extends downward.

At the 1 hour level, Bitcoin fell below the Bollinger Bands and rebounded quickly. MACD short positions shrank and showed signs of a golden cross. The KDJ three lines had a cross upward trend. It can be seen that the 1 hour level rebounded but not with much force and did not break through 36500. Or look at the support below

Bitcoin intraday operation suggestions

The 36170-35970 area indirectly looks at a rebound to 36800.

The above are all personal opinions. Details of real-time changes in the market are subject to the Lao Crab forbidden area $BTC