Daily Share

In the recent week, Bitcoin experienced a wave of volatility and a V-shaped recovery, first dropping from the position of 73,620 to around 67,800. Then, with the U.S. elections and Trump's victory, it rebounded again and broke through the historical high, currently reaching a maximum of 76,850, setting a new historical peak. This is a miracle.

This year's market, in fact, the most challenging has been Bitcoin's high-level fluctuations, with mainstream and altcoins continuously declining. Everyone has lost confidence in the bull market and lacks the profit effect. In fact, a bull market generally presents opportunities in the last 20% of its duration, when altcoins and mainstream coins emerge. So take it slow, don't rush.

Currently, the daily level upward movement of Bitcoin still shows no signs of ending, so we can only look for trading opportunities at smaller levels. There is an expectation for a 1-hour pullback in the short term, but the 4-hour level currently shows no signs of ending its upward movement. Therefore, we can only wait for the 1-hour pullback to occur before participating in long positions, while shorting should be done with stop-losses. When the market is particularly strong, it may continue to push up without giving a pullback until it reaches its peak before retracing.

BTC Medium to Long-term

Weekly:

On the weekly level, we are currently experiencing an upward movement at the weekly level, with an expected target of 100,000+. It is expected that when Bitcoin's weekly level approaches its peak, it will be the time for altcoins and mainstream coins to surge.

Daily:

At the daily level, it is currently in an upward movement starting from 49,000. This upward movement has entered the previously anticipated range of 76,000 to 80,000, and we are looking to see if it will attempt to reach 80,000 in the short term. After this daily upward movement completes, there will likely be a daily pullback, and we will observe the target for the daily pullback, which may also reach around 65,000. After the second daily pullback completes, the third daily upward movement is likely to attempt to reach 100,000.

4H:

At the 4-hour level, starting from 49,000, this daily upward movement has already completed 7 waves. If the upcoming seventh wave of the 4-hour upward movement cannot break through the 77,000 to 77,500 range, then in mid to late November, we may see a daily level pullback. If the current 4-hour upward movement can break through 77,500, it should continue to rise, resulting in an eighth wave of 4-hour pullback and a ninth wave of 4-hour upward movement, which may lead to around 80,000.

Of course, 70,000 below is also a relatively important support point. If the subsequent pullback breaks below 70,000 again, we can expect a daily level pullback. Until it breaks, we cannot determine and can only observe the 4-hour pullback structure.

BTC Short-term

Due to the rapid changes in the market, the article can only make predictions based on the market conditions at the moment of publication. Short-term traders should pay attention to the latest market changes, and this is merely for reference.

1H:

At the 1-hour level, Bitcoin has a demand for a 1-hour pullback in the short term, but I am not quite sure if it has already started. If a successful 1-hour pullback occurs here, we can focus on the area around 73,000 to 74,000 below. As long as it holds above 72,000, there will at least be a 1-hour rebound towards 77,000 or above; breaking below 72,000 would indicate a 4-hour pullback.

PS: I have noticed that many new investors do not quite understand the term 'pullback,' let me explain it briefly.

Pullback: A pullback refers to a decline that occurs after a price increase. This process of declining after an increase is called a pullback, which is a type of decline, but more inclined to be a normal drop within an upward trend. Literally means a fallback adjustment.

15M:

At the 15-minute level, it is currently consolidating within a central zone, and it may push up again towards 77,000 or above, then hit a new high before starting a projected 1-hour pullback, as indicated by the green arrow in the image above.

Of course, if it consolidates here and directly breaks below 75,500, we can expect a 1-hour pullback, as indicated by the blue arrow in the image above.

ETH

Ethereum may attempt to push up again, with resistance at 3,000 to 3,040 above. If it cannot break through, it should undergo a 1-hour pullback to around 2,750 in the coming days. After that, there should also be a 1-hour upward movement towards 3,000.

Trend Direction

Weekly Level: Direction is upward, currently experiencing a new upward movement at the weekly level, with an overall target of 100,000+

Daily Level: Direction is upward, with the daily level's upward movement still focusing on 77,000. A breakthrough will lead us to 80,000.

4-Hour Level: Direction is upward, short-term focus on the resistance at 77,500, and an effective drop below 72,000 will indicate a 4-hour pullback.

1-Hour Level: Direction is downward, expecting a 1-hour pullback soon.

15-Minute Level: Consolidation, in the short term, it can push up to 77,000 before pulling back, or it can pull back directly.