Welcome to my world. I want to say that there are still many skilled teachers in the market, and I have always believed that there are greater heights and more talented individuals beyond what we see. Many new friends have told me about their previous teachers, but since I haven't personally experienced their abilities, I can't make a judgment. However, to be fair, based on my own experience, I have also come from being a novice teacher and have changed a lot along the way to where I am today. No one is perfect; everyone has weaknesses. As a teacher, I may not be humorous enough or eloquent, but I definitely have a heart willing to help you. As long as you are willing to open your heart and communicate more, we can achieve a mutually beneficial cooperation.

Last night around 11 PM, the cryptocurrency market experienced another "plunge" trend, with Bitcoin, Ethereum, and several major altcoins showing a rapid short-term decline. After midnight, the crypto market saw a slight rebound, but the upward momentum was weak, leading to another downturn. Bitcoin fell below $106,000, briefly touching $105,306.56, with a 24-hour decline of over 4% and a 1-hour volatility of 2.44%; Ethereum fell below $3,600, briefly touching $3,558.82, with a 24-hour decline of over 7%. Since entering November, the anticipated rebound in the market has yet to materialize, and instead, it has continued to decline, showing another "plunge" trend. What factors are driving the increasing panic in the market? Is this round of the bull market nearing its end? Is the market about to bottom out?

Bitcoin (BTC) Trend Analysis on November 4

From the current hourly chart, BTC has once again broken through the short-term support level, testing the $104,000 line, which is the lowest point in the past month, with a clear bearish dominance. From a technical perspective, the MACD lines are closely following a downward trend and have formed a death cross above, indicating that there won't be significant upward movement in the short term. The short-term support to watch below is $101,500; if this level is reached, a long position strategy can be set up, targeting 1,000-2,000 points.

As of the time of writing, the price of ETH is close to the USD ≈ 3500 – 3400 range, with a weak recent trend. Based on on-chain and technical signals, it can be seen that the enthusiasm of ETH holders to enter the market has decreased, with the accumulation ratio of holders dropping to about 29.79%. In the short term, ETH has failed to hold the key support area, and market sentiment is cautious. Although the fundamentals (such as network ecology, liquidity, and scale effects) still have medium to long-term potential, the short-term technical structure is under pressure.

In summary, ETH's trend on November 4 is more inclined towards weak fluctuations or potential downward risks, rather than an immediate strong rebound. From a technical perspective, the MACD and moving average structure indicate that ETH has shown a death cross or a downward trend in moving averages on the daily chart, with short-term momentum leaning bearish. RSI and oversold status: some analyses have observed that RSI is close to or entering the oversold zone, while "hidden bullish divergence" has also been mentioned, suggesting that if support holds, a rebound may occur.

Lower support area: Approximately USD 3400 is seen as a key short-term support. If this level is approached, a long position strategy can be set up, targeting 100-200 points.

If the price rebounds and breaks through around USD 4,000 with accompanying volume, it can boost confidence in long positions, targeting the USD 4,100 – 4,300 range.

The market is always the market; the harsh reality will not change because of your losses, nor will it cease due to your tears and complaints. To change your fate, you must continuously learn investment skills and improve your abilities. This will accelerate your escape from the sea of suffering. This article is exclusively contributed by "Coin Sea Whale." Please indicate the source when reprinting. There may be delays in online publication, and market conditions can change rapidly. For more real-time market updates, if you are trading contracts for Bitcoin or Ethereum and feel lost on your investment journey, you can follow the teacher and communicate with them in real-time. Before entering the market, you should thoroughly understand all related investment risks, and the risks are borne by yourself.

Warm reminder: For more timely strategies and information, please scan the QR code of the public account to follow and obtain it. The comments and advertisements below this article are unrelated to me; please discern carefully. Thank you for your support.

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。