11.5 BTC, ETH Evening Analysis: A Double Bottom Is About to Form in the Upward Process
At the beginning of this month, Bitcoin gradually narrowed from a wide range of fluctuations, and the upward trend on the monthly chart has not yet ended; it has just begun. After the next pullback action is completed, the upward trend will open again. As long as Trump wins the election, we will decisively go long. This week, we are all positioning ourselves according to the big direction. Friends who follow my posts know that over the weekend, both the major news and technical indicators were fully bullish. As long as we follow the strategy, we haven't precisely reached the target points. For those who haven't kept up, please hurry up.
Looking at BTC from the 4-hour chart: Bitcoin has formed a double bottom upwards structure, but the right side bottom has not yet fully formed, and there will be further pullback actions. The right side symmetrical 4-hour lifeline is around 69050, and the high point and trend line form a crossover pressure at 69800. The technical indicators on the 4-hour chart have already indicated divergence, and after the early morning dip to the low at 66800, there was a second divergence upwards. Therefore, the overall direction is strongly bullish. As long as there are pullback actions, we can enter the market in batches. Looking at the attached indicators, they are all pointing upwards, combined with the trend chart and the overall direction, we are bullish. Therefore, we should go with the trend, and going long at lower prices is the best choice.
BTC Evening Strategy: Go long at 68700-69200, target near 69800!
ETH Evening Strategy: Go long at 2410-2425, target near 2520!
