Scholar of the Cryptocurrency Circle: On November 14, a Bitcoin (BTC) oversold signal appeared, but will the bearish pattern really end here?
When a large bearish candlestick drops, it’s easy to make two mistakes: either panicking and selling at the lowest point, or rushing to buy halfway up. The points on the chart are dead, but human emotions are alive. For short-term trading, strictly enter and exit according to signals; for swing trading, view the 4-hour fluctuations with a more relaxed attitude. Don’t borrow money, don’t increase positions to average down, and don’t put all your margin in one direction. Text is just a review of the market, and it does not constitute any investment advice; contracts carry high risks, so think clearly before entering with real money, and take responsibility for your gains and losses.
The daily candlestick has fallen below all short and medium-term moving averages such as EMA15, EMA30, and EMA60, with moving averages arranged in a bearish formation. The lower Bollinger Band at 70432 has been broken, and the price is running outside the lower band. In terms of MACD, bullish momentum continues to be suppressed. The TD sequence on the daily chart shows a 9, indicating oversold signals in the short term, but without reclaiming the key moving averages and the lower Bollinger Band, the daily level remains weak, and any rebound should be viewed more as a recovery following the decline.
The four-hour candlestick is located below EMA15 at 71093, EMA30 at 72598, and EMA60 at 74345, with short and medium-term moving averages diverging downward, creating pressure above for any rebound. The Bollinger Bands are opening downward, with the price near the lower band at 68044, and the middle band at 76353 is moving downwards. The MACD decline rate has slowed down; the TD sequence shows a 9 in the lower range, which is an observation signal after short-term overselling, indicating a potential technical rebound after continued downward movement, but whether the rebound can be sustained depends on volume and reclaiming the moving averages.
Short-term Reference:
For moving north, the price is blocked from 67500 to 67000, stop loss at 500 points, target looks at 68500 to 70000.
For moving south, from 71200 to 71700, there is stagnation, stop loss at 500 points, target looks at 70000 to 69000.
Specific operations must rely on real-time market data. For more information, you can consult the author; the publication of articles may be delayed and is for reference only. Risks are self-borne.
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