Bafang | BTC Morning Market Analysis 11.05
Data as of: Beijing time 11.05 08:31
Last night I asked whether U.S. stocks would follow through in the first hour after the open or sell off first. The answer was clear: they followed through.
🌙 Overnight
The 22:00 candle climbed from 78,366 to 79,668, then at 23:00 it surged straight to 81,200.
In the second half of the night, it moved sideways between 79,946 and 80,960.
Now $BTC 80,776, 24h +4.72%
The Nasdaq rose more than 2% intraday, and crypto followed suit. Short sellers were squeezed hard during the rally; CoinGlass data shows about $380 million in short liquidations within an hour.
📊 Compared with last night
The daily MACD histogram flipped from -620 to +65.8, turning positive.
The daily RSI rose from 41.9 to 51.6; the 4-hour RSI is 67.8, a little overheated in the short term.
Fear and Greed Index: 50, up from 34 yesterday.
Long/short account ratio: 1.54, down from 1.75 last night. The price rose, but fewer people are going long.
Wednesday's ETF data is not yet complete. The first three trading days saw total outflows of about $1.16 billion.
$ETH 2,431, 24h +7.26%, stronger than BTC, above the daily EMA50 at 2,412.
$SOL 96.02, daily RSI 37.9, still below the Bollinger middle band at 99.97, the weakest of the three.
🎯 Key levels today
Resistance: 81,200 / 82,153 (daily MA50) / 84,257 (upper Bollinger band)
Support: 80,168 (daily EMA50) / 79,946 (overnight low) / 78,725
Outlook: Bullish-leaning consolidation. It barely fell back below 80,000 all night, which suggests buyers are stepping in. But the 4-hour chart is already somewhat overheated, so a direct push to the MA50 seems unlikely. It would be more normal to consolidate between 80,000 and 81,200 first.
Bafang's view: I'm not chasing. Let's see if it holds near 80,000 on a pullback. Only if it breaks above 81,200 on strong volume would I look for levels above 82,000. If it falls back below 79,946, last night's rally will have to be called into question.
Will it break above 81,200 first today, or pull back to 80,000 first?
(Personal opinion; not investment advice)
#BTC #Market Analysis
Data as of: Beijing time 11.05 08:31
Last night I asked whether U.S. stocks would follow through in the first hour after the open or sell off first. The answer was clear: they followed through.
🌙 Overnight
The 22:00 candle climbed from 78,366 to 79,668, then at 23:00 it surged straight to 81,200.
In the second half of the night, it moved sideways between 79,946 and 80,960.
Now $BTC 80,776, 24h +4.72%
The Nasdaq rose more than 2% intraday, and crypto followed suit. Short sellers were squeezed hard during the rally; CoinGlass data shows about $380 million in short liquidations within an hour.
📊 Compared with last night
The daily MACD histogram flipped from -620 to +65.8, turning positive.
The daily RSI rose from 41.9 to 51.6; the 4-hour RSI is 67.8, a little overheated in the short term.
Fear and Greed Index: 50, up from 34 yesterday.
Long/short account ratio: 1.54, down from 1.75 last night. The price rose, but fewer people are going long.
Wednesday's ETF data is not yet complete. The first three trading days saw total outflows of about $1.16 billion.
$ETH 2,431, 24h +7.26%, stronger than BTC, above the daily EMA50 at 2,412.
$SOL 96.02, daily RSI 37.9, still below the Bollinger middle band at 99.97, the weakest of the three.
🎯 Key levels today
Resistance: 81,200 / 82,153 (daily MA50) / 84,257 (upper Bollinger band)
Support: 80,168 (daily EMA50) / 79,946 (overnight low) / 78,725
Outlook: Bullish-leaning consolidation. It barely fell back below 80,000 all night, which suggests buyers are stepping in. But the 4-hour chart is already somewhat overheated, so a direct push to the MA50 seems unlikely. It would be more normal to consolidate between 80,000 and 81,200 first.
Bafang's view: I'm not chasing. Let's see if it holds near 80,000 on a pullback. Only if it breaks above 81,200 on strong volume would I look for levels above 82,000. If it falls back below 79,946, last night's rally will have to be called into question.
Will it break above 81,200 first today, or pull back to 80,000 first?
(Personal opinion; not investment advice)
#BTC #Market Analysis