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 articles and videos from the King, and I hope the brothers who have been following the King will return.
Click the link to watch the video:https://www.bilibili.com/video/BV176DZYbEQU/
At midnight on November 7, we provided a long position suggestion for Bitcoin at 7.57/2840. The market trend was very strong, and this long position peaked at 7.65/2950, successfully capturing a substantial profit of 1000/100 points. Congratulations to those who followed the operation. Currently, the market is in a short-term narrow fluctuation phase, but the overall strong pattern continues. Let's look at the following in-depth analysis for future operations.
1. Bitcoin (BTC) Analysis
From the daily chart, Bitcoin formed a doji with upper and lower shadows yesterday, and the price strongly refreshed its historical record, reaching a high of 7.68. In terms of movement, due to the volatility characteristics of the Asian and European sessions during the day, the market mainly exhibits narrow fluctuations, making it difficult to form a clear directional trend. Therefore, the focus should be on the market dynamics during the evening when the U.S. stock market opens, which may lead the direction of Bitcoin's trend.
Analyzing the 4-hour chart from a short-term perspective, the performance of the MA5 and MA10 daily moving averages is crucial. If Bitcoin's price can continue to hold above these two moving averages, it is likely to maintain an upward rebound trend in the short term, and there may even be a further breakthrough. Conversely, if it falls below, the market may enter a consolidation pattern. The short-term support level to focus on is around 7.55. If the price retraces to this level, it will test the strength of the bulls' support and market confidence.
2. Ethereum (ETH) Analysis
The daily chart of Ethereum shows that it formed another red candlestick yesterday, with the price testing the weekly MA30 moving average (2960) upward, but it failed to break through. Currently, the daily resistance level is mainly concentrated around the MA256 moving average (3070), while the support level is near the 4-hour MA5/10 moving averages. As long as Ethereum's price remains above the 4-hour MA5/10 moving averages, its strong bullish pattern is expected to be maintained, laying the foundation for future upward trends.
3. Today's Operation Strategy (Written at: 17:30)
(1) Bitcoin (BTC)
It is recommended to lightly position long orders around 7.56. If the price retraces to around 7.5, consider adding to the long position. The target price is initially set at 7.65. When the price rises above 7.7, consider reducing the position to lock in some profits and control risks while retaining some positions for greater gains. It is essential to closely monitor market dynamics and adjust positions flexibly.
(2) Ethereum (ETH)
You can lightly enter long orders around 2890. If it retraces to the 2860 level, decisively add to the long position. The target is set above 2950/3000. When the price reaches this area, adopt a position reduction strategy to cope with market uncertainties and secure profits.
Special reminder: Given the characteristics of the Asian and European market during the day, the expected volatility is limited and direction is hard to determine. The core focus is whether the 4-hour MA5/10 moving averages are maintained. Investors should concentrate their efforts and attention on the market reaction after the U.S. stock market opens in the evening, as the direction of the U.S. stock market often significantly influences the cryptocurrency market, thereby affecting the price trends and trading strategies of cryptocurrencies like Bitcoin and Ethereum.
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 mainly been characterized by fluctuations, accompanied by intermittent spikes. Therefore, when making trades, remember to control 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. Friends who wish to watch can find the Coin Victory Group online and contact me for the link.
Mainly focused on spot and contract trading, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile locking strategies around high and low support and resistance, short-term wave highs and lows, medium to long-term trend positions, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
