Bitcoin Market Analysis and Trading Suggestions on November 7 (Writing Time 1:13)

The current price of Bitcoin (BTC) is around 101,000. Bitcoin has rebounded during the day but is facing pressure again near the 100,000 mark, as it approaches the 4-hour EMA15 and the middle track. In the short term, we will continue to observe the strength of the lower track support. The MACD green bars are shrinking and nearing the 0 axis, while the DIF and DEA have formed a golden cross and are now converging. Long positions need to pay attention to whether a death cross forms. The KDJ three lines are pointing downwards, and the RSI is also approaching oversold territory. Those looking to short should be cautious of a 1H oversold rebound and the potential for a second upward divergence in the 4-hour DIF. If the price drops, it may be a good opportunity to try entering low long positions. On the upside, continue to monitor the pressure above the middle track at 103,500; if it breaks, we can look towards the EMA30 (105,000). If the middle track faces pressure again, we can consider entering high short positions!

Selling Points:

• Light short at ≥103,500, stop loss above 104,500.
• Take profit at 102,200 - 101,500 - 100,500; if it breaks 100,000 - 99,800, you can continue to hold until near the previous low.

Buying Points:

• Light long at ≤100,500, stop loss below 99,500.
• Take profit at 101,500 - 102,500 - 103,500; if it breaks 104,000 - 104,500, you can continue to hold until above 105,000.

The article review and push have delays; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Avoid heavy positions! Thank you for reading!

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Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration in the days to come. Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, and do not be swayed by short-term fluctuations; look at the market with a long-term perspective. Keep learning and improving your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. Wherever you are, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone a smooth journey in the cryptocurrency world, returning with a full load!

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