👍🏻November 5 midday market outlook.👍🏻
$BTC outlook:
Has this Bitcoin rally run its course? It doesn’t look like it yet, because there’s no MACD divergence below. So for now, avoid trying to call the top and short. Bitcoin is currently consolidating after its rise, with a range of 81243–79792. The hourly W bottom has formed. The consolidation area marked by the red box saw a structural break, which led to the subsequent rise to 81000. Don’t get distracted by the news—just focus on the chart, and it will give you the answers you’re looking for. Bitcoin’s breakout from the consolidation area marked by the red box ended the hourly downtrend. As long as Bitcoin holds above 79792, the hourly chart will have reversed from a bearish move into a bullish trend. Follow the rally marked by the large red arrow and look to go long on a pullback, rather than assuming it has risen too far and trying to call the top with a short. A new uptrend is already underway, so trying to short the top could mean getting in halfway up the mountain. For Bitcoin longs, watch the 79792–78613 support zone and wait for a bottoming signal there before going long. A deep pullback is nothing to worry about as long as Bitcoin stays above 78613. If it falls below 78613 on a pullback, it will most likely reverse from the highs. I also tried opening a small short position overnight, but the price wouldn’t move down and swept my protective stop, so I got out. Now I’ll wait for a pullback to go long.
If Bitcoin breaks above 80856 with volume, aggressive traders can enter long on confirmation. If it breaks below 80000 with volume and a rebound fails to reclaim it, enter short on confirmation. Use a stop-loss.
A confirmed hourly break above 80856 puts Bitcoin on track for 82000–82600. If it can’t get above 80856, that outlook is invalid.
A break below 80000 on the 4-hour chart puts the downside targets at 78613–77359.
Resistance above: 80856–82000–82600
Support below: 80000–78613–77359
$ETH outlook:
If Ethereum breaks above 2436 with volume, enter long on confirmation and use a stop-loss.
If it breaks below 2404 with volume, enter short on confirmation. Use a stop-loss.
If a retest of 2369 confirms support, go long for one unit.
Stop-loss if it breaks below 2337.
A confirmed hourly hold above 2436 puts Ethereum on track for 2479–2503.
Watch 2503 overhead; if price reaches it, short one unit.
Stop-loss if it breaks above 2540.
Left-side wick-entry orders: long at 2310; stop-loss if it falls below 2261.
Resistance above: 2436–2479–2503
Support below: 2404–2369–2337
Please see the comments.
$BTC
#币安安全事件恢复进展：98%被盗资产已回填
$BTC outlook:
Has this Bitcoin rally run its course? It doesn’t look like it yet, because there’s no MACD divergence below. So for now, avoid trying to call the top and short. Bitcoin is currently consolidating after its rise, with a range of 81243–79792. The hourly W bottom has formed. The consolidation area marked by the red box saw a structural break, which led to the subsequent rise to 81000. Don’t get distracted by the news—just focus on the chart, and it will give you the answers you’re looking for. Bitcoin’s breakout from the consolidation area marked by the red box ended the hourly downtrend. As long as Bitcoin holds above 79792, the hourly chart will have reversed from a bearish move into a bullish trend. Follow the rally marked by the large red arrow and look to go long on a pullback, rather than assuming it has risen too far and trying to call the top with a short. A new uptrend is already underway, so trying to short the top could mean getting in halfway up the mountain. For Bitcoin longs, watch the 79792–78613 support zone and wait for a bottoming signal there before going long. A deep pullback is nothing to worry about as long as Bitcoin stays above 78613. If it falls below 78613 on a pullback, it will most likely reverse from the highs. I also tried opening a small short position overnight, but the price wouldn’t move down and swept my protective stop, so I got out. Now I’ll wait for a pullback to go long.
If Bitcoin breaks above 80856 with volume, aggressive traders can enter long on confirmation. If it breaks below 80000 with volume and a rebound fails to reclaim it, enter short on confirmation. Use a stop-loss.
A confirmed hourly break above 80856 puts Bitcoin on track for 82000–82600. If it can’t get above 80856, that outlook is invalid.
A break below 80000 on the 4-hour chart puts the downside targets at 78613–77359.
Resistance above: 80856–82000–82600
Support below: 80000–78613–77359
$ETH outlook:
If Ethereum breaks above 2436 with volume, enter long on confirmation and use a stop-loss.
If it breaks below 2404 with volume, enter short on confirmation. Use a stop-loss.
If a retest of 2369 confirms support, go long for one unit.
Stop-loss if it breaks below 2337.
A confirmed hourly hold above 2436 puts Ethereum on track for 2479–2503.
Watch 2503 overhead; if price reaches it, short one unit.
Stop-loss if it breaks above 2540.
Left-side wick-entry orders: long at 2310; stop-loss if it falls below 2261.
Resistance above: 2436–2479–2503
Support below: 2404–2369–2337
Please see the comments.
$BTC
#币安安全事件恢复进展：98%被盗资产已回填
