11.11 Singles' Day focus on recovery, Monday market shows an upward recovery trend, the main theme is to buy on pullbacks.

Monday has arrived, and the overall market is viewed as having reached a high-level recovery phase, with a certain demand for pullbacks. The ideal pullback would be for Bitcoin to return to around 74500 and 77000. However, the Bitcoin market looks rather weak because it is too strong and has a certain demand for liquidating long positions. It is difficult to specify how many points Bitcoin will pull back at this level, but there is definitely a demand.

As for my view, the current market should not see a strong decline but rather enter a consolidation range, with bottom support around 80500 and 78500, with support every 1000 points.

Altcoins also have a stable pullback demand, but a significant drop is not expected to occur immediately; it should be observed after consolidation for bullish or bearish conditions.

BTC Daily - 4 Hour Level Market Analysis

After Bitcoin's price surge, the high reached around 82000. Currently, the weekly closing looks good, but there is indeed a demand for a pullback. This is not the time for long-term bearish trades; the current timeline should still be bullish for the long term. Do not change the long-term targets, but feel free to try fluctuations in the short term. The possibility of a significant drop exists, but it definitely will not happen now; please focus on waiting.

Ethereum is regarded as a consolidation trend, with bottom support around 3070 and upward pressure around 3220. The focus should be on the trend direction or digesting the overall upward momentum.

BTC Intraday Level Analysis

 The intraday Bitcoin price increase logic is weakening; currently, the focus is on consolidation. The logic for long positions on large pullbacks remains unchanged, and the logic for long positions on small pullbacks has not changed either. So, we should first look at where the pullback occurs; the pressure above this level is around 82500 and the previous high, while bottom support is around 80200 and 78500. Initially, we will look at the support around 80200, then potentially go up to 82500 or 81500 to clear positions.

In this kind of market, just reduce leverage when bearish; never casually short in this kind of market, as doing so will lead to losses. The trend for shorting has not reached the point; there is no need to rush. #BTC挑战8W2大关 #大盘的下一步？