$BTC Evening outlook: 11.10.
Tomorrow is Singles’ Day. Looking at Bitcoin’s current trend, it seems ready to go on sale! Bitcoin is still moving sideways within the 75536–73803 consolidation range. You should remember that it’s not worth taking any trades while price is moving within a trading range, because it’s choosing a direction. Once Bitcoin has chosen its direction, you can simply trade with the trend. Bitcoin has now fallen below the triangle. If it can’t get back inside the triangle, get ready for a second retest of the 73803–73333 support zone. Everyone knows we’re in a downtrend now, and so do I. But we all want to buy the dip and go long, right? Yes, that’s what I want to do too. Is it okay to buy the dip and go long? Sure, but know that any long position you take now is a countertrend trade—you can only capture a bounce, not hold for a bigger move. That’s human nature; nobody can escape it. So how should you go long on Bitcoin now? Wait for Bitcoin to retest the 73803–73333 support zone and show a bottoming signal before going long! Bitcoin needs to get back above 75536 and hold there to stop falling and begin a rebound, with upside targets at 76377 (high 1) and 77505 (high 2). If it can’t break through 75536, it can only continue moving sideways.
If Bitcoin breaks above 74835 with volume, aggressive traders can enter long on the right side. If it rebounds to 76364, consider opening a half-size short on the left side. Be sure to set a stop-loss.
On the hourly chart, if Bitcoin breaks above and holds 74835, the upside targets are 75536–76377. If it can’t get above 74835, that’s no good.
On the 4-hour chart, if it falls below 74111, the downside targets are 73400–72000.
On Bitcoin’s 4-hour chart, the EMA fast, slow, and middle lines indicated by the red arrows are all diverging toward the lower right. That’s a bearish trend. Bitcoin is currently fighting to defend 75000 on the 4-hour chart. If it can get back above 75000, the decline on the 4-hour chart will be over. It must break through 76398 to restart the 4-hour uptrend. Based on the EMA lines, Bitcoin is currently being capped by the 20-day EMA. For a rebound, it must break through the 20-day EMA; if it can’t, it won’t rise. Meeting adjourned.$BTC
#CPI前瞻，12月利率走向迎关键考验
Tomorrow is Singles’ Day. Looking at Bitcoin’s current trend, it seems ready to go on sale! Bitcoin is still moving sideways within the 75536–73803 consolidation range. You should remember that it’s not worth taking any trades while price is moving within a trading range, because it’s choosing a direction. Once Bitcoin has chosen its direction, you can simply trade with the trend. Bitcoin has now fallen below the triangle. If it can’t get back inside the triangle, get ready for a second retest of the 73803–73333 support zone. Everyone knows we’re in a downtrend now, and so do I. But we all want to buy the dip and go long, right? Yes, that’s what I want to do too. Is it okay to buy the dip and go long? Sure, but know that any long position you take now is a countertrend trade—you can only capture a bounce, not hold for a bigger move. That’s human nature; nobody can escape it. So how should you go long on Bitcoin now? Wait for Bitcoin to retest the 73803–73333 support zone and show a bottoming signal before going long! Bitcoin needs to get back above 75536 and hold there to stop falling and begin a rebound, with upside targets at 76377 (high 1) and 77505 (high 2). If it can’t break through 75536, it can only continue moving sideways.
If Bitcoin breaks above 74835 with volume, aggressive traders can enter long on the right side. If it rebounds to 76364, consider opening a half-size short on the left side. Be sure to set a stop-loss.
On the hourly chart, if Bitcoin breaks above and holds 74835, the upside targets are 75536–76377. If it can’t get above 74835, that’s no good.
On the 4-hour chart, if it falls below 74111, the downside targets are 73400–72000.
On Bitcoin’s 4-hour chart, the EMA fast, slow, and middle lines indicated by the red arrows are all diverging toward the lower right. That’s a bearish trend. Bitcoin is currently fighting to defend 75000 on the 4-hour chart. If it can get back above 75000, the decline on the 4-hour chart will be over. It must break through 76398 to restart the 4-hour uptrend. Based on the EMA lines, Bitcoin is currently being capped by the 20-day EMA. For a rebound, it must break through the 20-day EMA; if it can’t, it won’t rise. Meeting adjourned.$BTC
#CPI前瞻，12月利率走向迎关键考验
