Do not worry about having no friends on the road ahead; there are like-minded individuals on the investment journey. Good afternoon, everyone! I am the King of Coins from the Coin Victory Group. Thank you all for coming here to watch the King’s articles and videos, and I hope that the brothers who have been following the King will return.
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In the article published on November 3rd, I proposed a short-selling strategy in the 6.92/2480 area. Bitcoin rebounded to a high of 6.93 before falling back to around 6.83, with short positions gaining about 1000 points, which aligns with expectations. Currently, there is a slight short-term rebound; please refer to the analysis below for specific operations.
The results of the White House election are about to be announced, and the outcome is crucial. The final results will be released within 24 hours. Spot investors need to closely monitor the election results, as they will significantly impact the bears. If Harris is elected, the bull market in the crypto space may be delayed by 3-4 months, possibly not starting until next year. Therefore, if unexpected events occur, consider exiting this year and wait for the opportunity to buy the dip next year. Most people are still in a profitable state. For contract investors, if you are not in sync with the Coin Victory Group, today’s operation suggestion is to try to buy the dip with a light position and strictly control your position size. If the market fluctuates contrary to expectations, promptly reverse to short. The short-term fluctuations in the market will mainly be influenced by the election results, and a rate cut decision is expected the next day. Rate cuts have a positive effect on growth in the crypto space, so even if the election results have a certain short-term impact on the market, their influence will not last long. Persistence will lead to victory.
In summary, there are currently two important profit opportunities in the market: one is the announcement of the election results, and the other is the implementation of the rate cut policy. Whether you can seize these two opportunities will determine the success or failure of this year’s investments. This is a historic opportunity that will not come every year; missing it would mean failure in crypto investments. If you have any questions, feel free to consult the Coin Victory Group.
From the daily chart, Bitcoin formed a lower shadow inverted hammer yesterday, with prices continuing to operate below the MA5 and MA10 moving averages, consistent with yesterday's analysis. The current resistance level is in the MA5/10 moving average range (6.94-6.97). If the price can break through and stabilize above this range, the short-term weak oscillation adjustment may come to an end. The hourly chart shows that the price has tested the MA256 moving average (6.93) multiple times, which can be seen as the current short-term dividing line between bulls and bears. During the previous decline, this line provided support multiple times; if 6.93 turns into a resistance level now, a pressure point may form for a top-bottom conversion in the short term.
BTC operation strategy: Short with a light position near 6.93, and if it rebounds to 6.98, increase the short position, setting the target around 6.8. If it breaks, reduce the position partially and continue holding until around 6.75/6.7.
This is today’s strategy for Bitcoin. If any friends are stuck in positions, feel free to reach out to the Coin Victory Group, and I will help you resolve the issues.
From the daily chart, Ethereum continued to weaken yesterday, breaking below the daily MA60 moving average (2500). The short-term support level remains consistent with yesterday's analysis, focusing on the 2380 level. The 4-hour chart shows that the price has repeatedly touched the bottom and rebounded in the 2400-2430 range. The price has now returned above the 4-hour MA5/10 moving averages, so pay attention to the strength of the subsequent rebound, with resistance in the 2530-2550 range.
ETH operation strategy: Short with a light position around 2500, and if it rebounds to 2530/2550, increase the short position, initially targeting 2430. If it breaks, reduce the position partially and hold until around 2380.
It should be noted that the daily level has now lost the MA5/10 moving averages, so the main focus should be on shorting in the short term. In the short term, the key resistance level is the MA256 moving average on the hourly chart; pay attention to whether it can break through and stabilize above 6.93. If it can hold above 6.93, a short-term rebound of 1000 points may occur; if it fails to break through, then 6.93 will act as a strong resistance level, and the market may pull back to test 6.7.
This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. Recently, the market has been mainly characterized by oscillations, accompanied by intermittent spikes, so when making trades, remember to control your take-profit and stop-loss levels. In the future, when facing significant market data, the Coin Victory Group will also organize live broadcasts across the internet. If you wish to watch, you can find the Coin Victory Group online and contact me for the link.
Mainly focused on spot and contract trading for BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles such as mobile locking strategies around high and low support and resistance for short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
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