11.11 Monday: Morning Thoughts and Insights
This morning, Bitcoin has strongly broken through 81,000 without showing any pullback, and its upward trend is expected to continue, potentially challenging the 100,000 mark. This may indicate that a real market trend is unfolding. Currently, the market is relatively calm, and I have been quietly accumulating long positions recently, accurately grasping the fluctuations in news.
From a technical perspective, the MACD of Bitcoin's daily candlestick chart shows a golden cross moving upwards, indicating strong bullish momentum; however, the KDJ trend shows signs of flattening, which may imply a change in the rate of increase. Although the price of Bitcoin surged last night, the trading volume did not exceed level 6, so subsequent changes in volume are worth close attention, as they have a critical impact on the sustainability of the trend.
The four-hour trend is roughly similar to the daily candlestick chart, with an overall upward trend. In market dynamics, there is no trend that only goes up without any drops; the movement of Ethereum is similar to that of Bitcoin.
In the short term, Bitcoin's resistance level above can be seen around 83,000, with support around 80,000!
Ethereum's resistance level above is approximately 3,300, with support around 3,100!
