Bafang | BTC Morning Market Analysis 11.04
Data time: Beijing time 11.04 08:38
Last night I asked everyone whether 77,600 would be breached. It was, but the price couldn’t hold above it.
🌙 Overnight recap
At 9 p.m., $BTC surged to 77,884; at 5 a.m., it reached a high of 78,066
It started turning down at 7 a.m.; the 8 a.m. candle hit a low of 76,853
Now at 76,954, down 0.33% in 24h. All those overnight gains have vanished
📊 Compared with last night
The long/short ratio fell from 2.76 at 8 p.m. last night to 2.38, with fewer people buying the dip
Fear and Greed Index at 34, up from 26 yesterday
Daily RSI at 36.6, MACD histogram at -785; bearish momentum remains
$ETH hit an overnight high of 2,308 and is now at 2,263, back where it started
$SOL 91.83, daily RSI at 27.2, not far from the Bollinger lower band at 90.53
🗳 The U.S. midterm elections are still being counted, and control of both chambers is yet to be decided. Results will come in throughout the day, making this today’s biggest variable
🎯 Key levels today
Resistance: 77,600 / 78,066 (overnight high)
Support: 76,853 (this morning’s low) / 75,856 (Bollinger lower band) / 74,353 (daily EMA200)
Outlook: Bearish consolidation. The overnight rally and reversal show that selling pressure overhead remains heavy. If 76,853 fails to hold, price will likely test the Bollinger lower band.
Bafang’s view: I’m staying on the sidelines until the election results come in. If you really want to enter, wait for the price to reclaim 77,600 and hold above it; if it drops to around 75,856, then watch for signs of support.
Do you think it will break 78,066 first today, or drop to 75,856 first?
(Personal opinion, not investment advice)
#BTC #MarketAnalysis
Data time: Beijing time 11.04 08:38
Last night I asked everyone whether 77,600 would be breached. It was, but the price couldn’t hold above it.
🌙 Overnight recap
At 9 p.m., $BTC surged to 77,884; at 5 a.m., it reached a high of 78,066
It started turning down at 7 a.m.; the 8 a.m. candle hit a low of 76,853
Now at 76,954, down 0.33% in 24h. All those overnight gains have vanished
📊 Compared with last night
The long/short ratio fell from 2.76 at 8 p.m. last night to 2.38, with fewer people buying the dip
Fear and Greed Index at 34, up from 26 yesterday
Daily RSI at 36.6, MACD histogram at -785; bearish momentum remains
$ETH hit an overnight high of 2,308 and is now at 2,263, back where it started
$SOL 91.83, daily RSI at 27.2, not far from the Bollinger lower band at 90.53
🗳 The U.S. midterm elections are still being counted, and control of both chambers is yet to be decided. Results will come in throughout the day, making this today’s biggest variable
🎯 Key levels today
Resistance: 77,600 / 78,066 (overnight high)
Support: 76,853 (this morning’s low) / 75,856 (Bollinger lower band) / 74,353 (daily EMA200)
Outlook: Bearish consolidation. The overnight rally and reversal show that selling pressure overhead remains heavy. If 76,853 fails to hold, price will likely test the Bollinger lower band.
Bafang’s view: I’m staying on the sidelines until the election results come in. If you really want to enter, wait for the price to reclaim 77,600 and hold above it; if it drops to around 75,856, then watch for signs of support.
Do you think it will break 78,066 first today, or drop to 75,856 first?
(Personal opinion, not investment advice)
#BTC #MarketAnalysis