11.12 Bitcoin's trend has not yet reversed; is the rebound just a trap?

CN
孟晓瀚
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4 hours ago

Yesterday, Bitcoin failed to break through and touched the middle track of the BOLL band, leading to a bearish push that caused a washout and a drop in price. As a result, after the daily update this year, the price fell below the MA5 moving average. Currently, the indicators show a divergence between the MA5 and MA10 moving averages, with the MA10 moving average pressing down on the price. Although the MACD is running with a shrinking volume below the waterline and the KDJ three lines have shown a slight upward sentiment, the overall trend of the BOLL band and the MA30 moving average maintain a downward oscillation pattern, indicating that the current major direction is dominated by the downward trend.

On the 4-hour chart, the current price is running below the middle track. The MACD is still oscillating and adjusting below the waterline, while the KDJ three lines have shown a slight rebound in sentiment during the evening. The current indicators are in disarray, and combined with news impacts, the price is experiencing back-and-forth washouts. Looking at the hourly chart, Bitcoin is leaning towards a slight range oscillation and pullback trend. Therefore, from evening to early morning, my personal view is to maintain a primary focus on rebound highs and a secondary focus on lower points.

Operation suggestion: Buy in batches at 104800-105800, target: 103500-102500, stop loss move up by 500 points.

Reference for lower points is around 102500-102000.

Ethereum's short-term trend is basically in sync with Bitcoin, with resistance at the high point around 3585-3650. From evening to early morning, my personal view is still to maintain a primary focus on rebound highs and a secondary focus on lower points.

Operation idea: Buy at 3550-3590, target: 3450-3400, stop loss: 3620.

Reference for lower points is around 3430-3400.
The current trend is expected to be sufficient, and I will continue to follow up.
Personal views are for reference only; there may be delays in article review and push, and the market changes rapidly. Specific entry and exit points should be based on real-time guidance, and caution is advised when entering the market.

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