BTC

The downtrend continues. The entry point yesterday was not reached. For those who did not enter, it’s best to continue observing. Those who entered at high positions should not rush to exit, nor should they expect to take profits at the lowest point. It’s already quite good to take profits at the retracement points. Currently, most students have positioned shorts at 73000, 72000, and 71500. Pay close attention to the major neckline zone between 66000 and 66500; if this level holds, you can take all profits, and if it breaks, you can still take some profits and hold the rest.

Looking at the market, capital released various bearish signals before the election, all waiting for the shoe to drop. The daily candlestick has clearly formed a head and shoulders pattern. Currently, it is standing above the EMA30 support at 67200. Yesterday, the daily candlestick had a high of 69500 and a low of 66835, briefly breaking the EMA30. Although it is currently holding at the support point, remember that prolonged support will eventually fail. MACD is shrinking downwards, with DIF and DEA spreading downward at high levels. The Bollinger Bands have contracted and the candlestick has broken the middle track at 68650, turning support into resistance. The lower track support reference is at 65400. The stronger the bearish trend, the more we must pay attention to the market; if there is any rebound, we should choose to exit.

The four-hour candlestick shows a downward channel, and the EMA trend indicator is beginning to spread downwards in a mesh trend. The EMA trend indicator has formed a double death cross trend, indicating a higher probability that the market will test the previous low again. The MACD bottom divergence trend continues, with DIF and DEA spreading below the zero axis. The Bollinger Bands have stopped contracting and are heading downward, and the candlestick has also reached the lower track support at 67500. KDJ is spreading downward, and the overall trend remains bearish. Focus on the major support point at 65500.

Daily reference: The market is not 100% certain, so always set stop-losses. Safety first; small losses and big profits are the goal.