$BTC If you didn't catch this wave of 71K, it's recommended to stay in cash. The reasons are as follows:
【Today's Market Analysis - BTC - 10.29】
For technical analysis learning purposes only, not as investment opening suggestions. Profit and loss are at your own risk.
1. Daily Chart: Do not go long at the current price, do not short!!! There is completely no liquidity above. The price may not drop temporarily, but it won't continue to rise either. After consolidation, there will be a pullback. 686~69 is a relatively ideal retracement position.
2. 4H: A bullish trend is gradually forming, overall moving in an upward channel, but there are signs of divergence in overall trading volume. The price is rising, but trading volume is decreasing. Based on the liquidity at the daily level, the subsequent scenario, Brother Ha predicts as follows: The price will start to consolidate in the 7 range. If there is significant short liquidity, the price may continue to rise. Otherwise, the price will start to pull back, and the pullback position should refer to the daily chart.
3. 15Min: At a smaller level, it can be seen that there is very strong bullish momentum, indicating that it is in a one-sided market, so shorting is not advisable, nor do we recommend chasing longs. This level has already shown multiple instances of volume-price divergence. Caution is needed, refer to the 4H scenario.
Intraday trading thought: Brother Ha reminds that in a one-sided market, one can only pull back to buy.
