BTC Analysis for December 2:
- D1 Frame: BTC has not yet escaped the downtrend in the D frame, and the inability to close the candle above the 986x zone keeps BTC in the 93-98 range, which may extend for a few more days.
- D4 Frame: Today will close the D4 candle. Although the candle is currently green, it looks quite bad, and there may be another drop of BTC down to the 93-94 zone by morning. Further down could be 88-89.
- W1 Frame: Last week's candle, although with a long wick, still closed red, which is quite bad. I think this week's candle will test around last week's low in the 90 range with a price fluctuation of 3k. This means the low this week could be around 93 or 87-88k. However, based on my assessment, I believe this week's candle will close green, or if it closes red, there will be a long wick like last week's candle to prevent the RSI from dropping significantly. Therefore, I prioritize going Long this week in the crucial zones of 93-94 and DCA further in the 88-90 range.
- M Frame: I believe this month's candle will still close green after last month's very strong full-bodied candle. These days will just be about creating the monthly candle's low. And this will be almost the last opportunity in this uptrend for everyone to catch a better entry.
=> My assessment:
- Even though I held Long positions for BTC and Doge all day yesterday. However, this morning I saw BTC closing the candle a bit trap, so I had to close everything and regretted it a lot because Doge skyrocketed. Although I managed to recover the short position on BTC, it didn’t make up for the last day of the month, oh my.
- As I mentioned above, I still believe BTC will have a quite long wick this week and will close around the 97k zone and above. Therefore, safety is still to wait for Long and DCA when the price is lower.
- The key levels to pay attention to are the 93-94 and 88-90 zones.
Please refer to this!