Cryptocurrency Market Update 🥇🥇🥇2024-11-9

Bitcoin and Ethereum trend analysis, wealth secrets, long and short ambush points…

BTC 4-hour K-line trend:

Resistance level: around 77938～79819

Support level: around 73232～74809

ETH 4-hour K-line trend:

Resistance level: around 3039～3144

Support level: around 2741～2826

Technical analysis:

1. Around 3:30 AM today, Bitcoin price hit a new all-time high near $77199, with the 4-hour K-line continuing to trend upwards along the wedge channel;

2. Bitcoin's daily volume indicator shows a decrease in volume (be cautious of potential manipulation by large investors), with three consecutive top divergence patterns on the daily level, so everyone should be mentally prepared for a major correction in Bitcoin; currently, the larger, medium, and smaller cycles of Bitcoin continue to show a bullish trend, indicating a bullish outlook for the future; short-term operational strategy remains to follow the trend, as long as the trend doesn’t change, neither do I, and buy low;

3. Currently, Bitcoin's 1-hour cycle shows a top divergence pattern, and the 4-hour KDJ indicator's main force is below 80 and trending downwards, indicating a temporary need for price correction. For short-term operations, we should buy low, and once the price corrects to the 30-minute or 1-hour EMA60 moving average or key neck support level, it will be the best opportunity to enter long positions for profit 🥰 (please set stop-loss, fasten your seatbelt, and take protective measures for the three strategies to recover) {Contract Thinking}

Short-term operational thinking: when the price corrects to the important support levels marked above, you can lightly place long orders to lay out your entry {Spot Thinking};

Investment involves risks, and caution is required when entering the market. The above analysis is for reference only! You can also make corresponding arrangements for altcoins based on the correlation with Bitcoin!

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