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In-depth analysis and operational guidance for the cryptocurrency market on November 11
During the analysis period on November 11, we firmly provided a bullish operational strategy, setting the entry points for Bitcoin and Ethereum at $81,000 and $3,150, respectively. Yesterday, the Bitcoin market experienced a remarkable surge, with a daily increase of up to 10%. Long positions soared to around $89,500, while Ethereum long positions rose to around $3,400, successfully capturing substantial profits of 8,500 points for Bitcoin and 250 points for Ethereum. Throughout these days of market analysis, we have consistently maintained a bullish outlook and only provided long strategies, and we have finally welcomed this strong upward trend. Currently, the short-term market remains at a high level and is running strongly. How to layout subsequent operations? Let’s look at the detailed analysis below.
- In-depth analysis of Bitcoin's trend
From the daily chart perspective, the 10% daily increase yesterday was indeed astonishing, with prices bravely approaching the important psychological level of $90,000. Although the daily chart shows signs of being overbought, there are no definitive signals of a peak in the short term. Therefore, in terms of operational strategy, being bullish remains the core idea, and any thoughts of going short should be decisively abandoned at this time. In terms of support levels, focus on the MA5/10 daily moving averages on the 4-hour chart, as these two moving averages serve as a solid defense line for the market. As long as the Bitcoin price does not effectively fall below the 4-hour MA5/10 daily moving averages, any pullback during this period should be viewed as an excellent opportunity to go long. As for short strategies, it may be wise to patiently wait until the 4-hour MA5/10 daily moving averages are successfully broken before considering them. Even when setting stop losses for long positions, given the current market situation and potential risk-reward ratio, it is a relatively wise choice. It is particularly important to note that the current market is filled with strong FOMO (fear of missing out) sentiment, but this should not be a reliable basis for predicting a market peak. Do not be swayed by it and blindly change strategies.
- Precise analysis of Ethereum's trend
The daily chart of Ethereum shows its unique trajectory. After the price previously retraced to the MA256 daily moving average (around $3,060), it successfully found support and began its upward journey again. While Bitcoin surged yesterday, Ethereum has not yet seen a large-scale rebound, but under the backdrop of Bitcoin's continuous rise, Ethereum still has the potential to achieve a rebound of 200-300 points. For short-term trading, grasping the entry point is crucial; just closely monitor the MA5/10 daily moving averages on the 4-hour chart. Once the price retraces to near the 4-hour MA5/10 daily moving averages, it is an excellent opportunity for us to decisively buy long.
- Core operational thoughts for the afternoon (written at 14:40)
(a) Bitcoin (BTC)
It is recommended to lightly position long orders near $88,200. If the price retraces to $87,300, then decisively increase the long position. Set profit targets in the range of 1,000 - 1,500 points. For the long positions established near $81,000 yesterday, investors can flexibly use the T+0 trading mechanism to repeatedly operate within the current price fluctuation range to maximize profits.
(b) Ethereum (ETH)
Lightly go long near $3,320, and if it retraces to $3,270, then increase the long position. The initial profit target is set towards $3,450, with further potential expansion to $3,600. For the long positions established near $3,150 yesterday, consider reducing part of the position when Ethereum's price rises to around $3,500 to lock in some profits and reduce holding risks.
- Key points and risk warnings
In the current market landscape, going long is undoubtedly the core operational direction. Even before Bitcoin's price broke through $80,000, we firmly maintained a bullish outlook and advocated long strategies. Predicting market tops is extremely challenging for ordinary investors. From the perspective of risk-reward balance, going long, even when facing stop losses, has much smaller potential losses compared to going short. For Bitcoin long positions, investors do not need to excessively wait for a significant pullback; just seize the opportunity of a few hundred points of small pullbacks to decisively enter long positions, as there are currently no obvious signs of a crash. As for Ethereum's operations, focus on the entry signals from the 4-hour MA5/10 daily moving averages. From a cost-performance perspective, going long on Ethereum is currently more attractive than Bitcoin, but this does not mean that Bitcoin's long opportunities are poor. Both should be flexibly operated based on their respective technical indicators and market rhythms, while closely monitoring market dynamics to timely adjust investment strategies and effectively respond to various market fluctuations and potential risks.
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 fluctuations, accompanied by intermittent spikes. Therefore, when making trades, remember to control your take-profit and stop-loss levels well. In the future, when facing significant market data trends, 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 later.
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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