Market analysis for November 11. The Bitcoin continues to hit new highs, but we still need to wait for a pullback before entering the market.

CN
10 days ago

Daily Share

Unknowingly, the 1-hour level rebound here has lasted for more than 4 days, continuously reaching new highs. However, there has been no accelerated upward movement, so we still need to be cautious of a short-term 1-hour pullback before going long again. The overall daily upward trend is still ongoing, and there are currently no signals of a major reversal.

Some friends are overly focused on the 4-hour or daily structure when considering issues, always thinking that since it has risen so much, they will wait for a daily pullback to go long, or a 4-hour pullback to go long. In a one-sided upward trend, such thoughts can easily lead to missing out, and a poor mindset may even lead to counter-trading.

In fact, when there are no trading opportunities at the daily and 4-hour levels, we might as well lower the trading level. If a 1-hour pullback occurs and we are very certain there will be a 1-hour level rebound, then why not take advantage of the 1-hour level rebound? If a 15-minute level pullback occurs and we believe there is a high probability of a 15-minute level rebound, why can't we execute a 15-minute level long position?

Contracts should often be played better by combining long and short positions, as long-term trading opportunities are not abundant. Short-term trading is certainly flexible, and one should not be vague when it’s time to take profits.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes, which should only be used as a reference.

1H:

At the 1-hour level, although there is an expectation of a 1-hour level pullback, we need to observe whether it can successfully materialize tomorrow. If it does, continue to pay attention to the area around 74000. After completing the 1-hour pullback, there will be a 1-hour level rebound, so for now, the main view is still bullish. As for going short, it’s not advisable at the moment due to the strong momentum, making it difficult to set stop-loss levels; it depends on individual considerations.

15M:

At the 15-minute level, the main focus is whether the short-term can break below 75600. Only if it breaks below can we confirm that a 1-hour level pullback is about to occur. Until it breaks, it’s hard to say whether it will hit a new high.

ETH

Ethereum is performing very strongly here. Currently, the first 1-hour upward movement has broken through 3000, reaching a high of 3058. The short-term resistance is around 3080. If it does not break through directly, it is likely to undergo a 1-hour level pullback, retracing to around 2800 before attempting to push towards 3080. The overall daily level rebound has major support in the 2750-2800 range. As long as this range is not breached, the 4-hour or daily level upward trend has not ended.

Trend Direction

Weekly Level: Direction is upward, currently undergoing a new weekly upward movement, with an overall target looking at 100,000+.

Daily Level: Direction is upward, with a probability of reaching around 80,000.

4-Hour Level: Direction is upward, with short-term attention on the resistance at 77,500. A valid drop below 72,000 would indicate a 4-hour pullback.

1-Hour Level: Direction is downward; a drop below 75,600 should confirm a 1-hour level pullback.

15-Minute Level: Direction is downward; as long as it stays above 75,600, we cannot confirm when the short-term 1-hour pullback will occur.

Feel free to follow my public account for discussion and exchange:

The article is time-sensitive; please be aware of the risks. The views expressed are personal suggestions and for reference only!

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