11.5 Zhang Lihui: Bitcoin Market Analysis and Trading Suggestions:
Last night, the market once again experienced a pullback, breaking below 67,000. According to Lihui's layout, long positions below 67,000 can continue to be held; in the 1-hour chart, it can be seen that the candlestick has just formed a rebound at the lower pin of the trend line to the current EMA30-EMA60 range. The current Bollinger Bands are opening upwards, and bulls are expected to rise further. In the MACD, the volume continues to increase above the 0 axis, and the low-level golden cross is still opening. Therefore, the upper pressure can be considered at the EMA120, 160, 220, and 300 positions, which is the range of 69,050-69,200. If it breaks, it can continue to be held; otherwise, it can be taken for profit.
In the 4-hour chart, the opening price this morning rebounded as expected at the EMA160 support to the current middle track and EMA7 position. The current upper track of the Bollinger Bands is rising, and the lower track is also rising. The EMA moving averages are still in a bullish arrangement. As Lihui said, the short-term pullback is just a normal occurrence, especially do not chase shorts before the election. Therefore, the current upper pressure also needs to consider the EMA30 and EMA60 and the upper track range, which aligns with the upper pressure in the 1-hour chart. In the MACD, the volume below the 0 axis is again shrinking close to the 0 axis position. After yesterday's failure to converge, the DIF and DEA are testing convergence again today. Pay attention to whether a golden cross can successfully form; once formed, 69,200 will no longer be a pressure point. If it pulls back to 68,000 to the middle track support, a long position can be entered.
On the daily level, the Bollinger Bands channel is closing, and the lower track continues to rise close to EMA30. Therefore, Lihui believes that the downside space is not as frightening as everyone says; a slight pullback causes unnecessary panic. It can be seen that the candlestick yesterday also just dipped below EMA30 and then rebounded. Currently, there is only short-term moving average pressure, and the middle track is still in an upward posture.
In summary, Lihui believes that a pullback before the election is normal; it is just a habitual pattern. The bulls still exist, and continuing to enter long positions during the pullback is fine, just ensure to set stop losses.
Beijing time, November 5, 1:17 AM, edited: Suggest entering long below 68,000 on the pullback, reserving the range of 66,500-66,800 for additional positions, with a stop loss of 500 points; targets are set at 68,500-67,100-69,700. If it breaks above the 69,800-70,000 range, it can be held; opportunities for short positions need to be combined with real-time market changes for entry, and specific operations will be based on Lihui's real-time notifications!
There may be delays in article review and push; the market changes rapidly, and specific entry opportunities must be combined with real-time operations, with article suggested points for reference only. Do not operate with heavy positions; please set take profit and stop loss when entering, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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