Analysis $BTC on November 7: Yesterday, BTC followed my pre | DJRain1989 on Binance Square

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Bullish

Analysis $BTC  on November 7:Yesterday, BTC followed my prediction by bouncing back to the 72x (724) range and rising again. However, the upward momentum was very strong, surpassing 75 and creating a new peak at 764, and currently, there are signs of a slight correction.
- D1 Frame: There are signs of a slight correction; at the moment, I see the 73x range, but if there is a strong sell-off, it could drop to 71x. I encourage everyone to look for Long opportunities rather than Short, as BTC is in a strong upward trend in the larger frame, and this is just a minor correction.
- W2 Frame: As I mentioned in yesterday's analysis, this week will close the W2 candle (2 weeks), so I will skip the W1 frame, as this week's W2 candle closure is very important. Looking at the W2 chart, you will see that BTC is at the upper band of the BB band, and it is currently narrowing even though BTC's W2 candle just recently was nearly 10k in price.
For this reason, I predict that this week's candle will close in the price range of 74-75x (small x). So that next week and the week after can continue to set ATH.
Therefore, I believe that the price range below 73x will be a better and safer buying area than shorting in the 74-75 range (yesterday I also tried a small short order and got stopped out 😢)
Please refer to this and come up with your own strategy ✊

LIVE

DJRain1989

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Bullish

BTC Analysis on November 6:
- Daily Chart (1D): BTC has increased more than 6k in price today from 692 to 756. However, prior to that, BTC was following technical analysis very well when it broke the strong resistance of 685-687 up to 70x and early this morning tested the resistance area of 686 one more time before it surged to 75x. I was also fortunate to catch a long position at 690, closing at 747 with more than 5500 in price to somewhat take revenge on the market.
I think the D1 chart will have a retracement to the range of 71-72 before continuing to rise further.

- Daily Chart (D4): currently in a very nice uptrend, the price will still rise very high.

- Weekly Chart (W1): the BB band is starting to widen, signaling that BTC is preparing to fluctuate in a very large price range. Combined with the fact that BTC just began to enter a bullish trend on the W1 chart with nearly 3 candles since 62k, BTC will rise very high.
If we consider the price level of 100k, BTC needs to increase nearly 40% more, while a bullish trend on the weekly chart for BTC makes it very normal to see x2 or x3. So, 100k, in my opinion, is still low.

- Weekly Chart (W2): this week marks the end of the W2 candle, so I’ll analyze it as well. In the W2 chart, BTC has not yet escaped the downtrend + the BB band is gradually narrowing even though BTC just made a 6k price pump. It’s very possible that the next W2 candle will be either a red candle or a green candle with quite a long wick.

=> My analysis:
- BTC is establishing the highest price ever, this will be the highest price increase, and the price, in my opinion, will be very surprising. Therefore, the range of 68-72 is still a very good buying area.
- BTC will continue to rise throughout this week and into next week before there is a significant correction to legitimize the W2 chart, and that will also be the last opportunity for everyone to jump on the long trend in this long-term bullish phase.
- Please don’t short and hold positions hoping for long gains to hinder the movement at this time, it’s very easy to burn out your account.
- Please refer to this ☺️

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BTC

90,816.01

+1.24%

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