Daily Market Analysis (11.06)
Summary:
1. There will be no self-criticism issued, it holds no significance for you. I really didn’t expect to reach 75,000 today, and since it was pulled up very quickly (taking the rebound in Pennsylvania as an opportunity, pulling up 4,000 points in one hour), it caught everyone off guard.
2. Don’t rush into trading yet, observe the evening trend; whether the US market opens high and keeps rising or opens high and falls is crucial. At least wait until around 71,500 to go long.
3. The market share of Bitcoin has reached 60%, and once it stabilizes, altcoins will catch up.
4. Maintain the original view that altcoin spot trading will be sold off in two batches at the end of November/December.
5. Originally planned to switch from short to long on the 8th, but the actual surge on the 6th far exceeded expectations; however, according to the timing, it can still proceed as originally planned.
6. The upward movement from 58,900 on the 4-hour chart has not yet completed. The previous six consecutive daily declines were just a downward move on the 4-hour chart.
7. Although there was a plan to go long on Monday, I placed many long orders before sleep, but due to conservative entry points, only one was hit. Conversely, my personal account hit more long orders. My intention was good, but it led to missing out, and I truly apologize to you all.
8. Due to this surge, both the 4-hour and 1-hour levels are no longer diverging. Therefore, there will be another downward move on the 1-hour level and an upward move on the 1-hour level; focus on whether it can break through the 80,000 line. Long positions should exit around the 79,000 line.
On Operations:
1. Observe the pullback strength of $BTC , and start going long at 71,200.
2. Capital allocation is as follows: Bitcoin 30%, $SOL 30%, $ETH 15%, and all other altcoins 25%.