Today's sharing of pancake trading views, crypto friends are welcome to provide guidance in the comments section
Date: November 5, 2024 The bearish trend remains unchanged, pay attention to the strong support area below.
Daily level: Yesterday's daily closing price broke below the key long-short game position (institutional arbitrage model reference price closing price, around 68393) and the EMA15 moving average. The CCI indicator did not give a stop-loss signal, indicating that the current bearish trend has not reversed. Pay attention to the strong support area below - the chip concentration area (around 66900).
4-hour level: The price at the 4-hour level has always been suppressed by the EMA15 moving average resistance. Need to pay attention to the strong support level below - Vegas channel EMA233 moving average (around 66450). If this support level is broken, the bearish trend will continue to extend.
Simplified version
Cryptocurrency: BTC
Date: November 5, 2024
Technical analysis:
Indicators: Institutional arbitrage model reference price + EMA15 + Vegas channel + CCI
Conclusion: The bearish trend remains unchanged, pay attention to the strong support area.
Resistance level: around 68600
Support level: ① around 66900
② around 66450