Morning Thoughts on November 6
For Bitcoin, the weekly chart shows a large bullish candle closing near the upper Bollinger Band, with the Bollinger Bands running flat. The MACD moving average and KDJ line are both moving upwards, and bullish volume is gradually increasing. After a high and subsequent pullback on the daily chart, it is likely to close with a bearish K candle. The Bollinger Bands continue to open upwards, the MACD moving average is moving upwards, bullish volume continues to decrease, and the KDJ line is starting to move downwards. On the 4-hour chart, the Bollinger Bands are opening downwards, and the price has broken through the middle band to reach the lower band position. The MACD moving average is moving downwards, bearish volume is increasing again, and the KDJ line is moving downwards; For Ethereum, the weekly chart shows a bullish close but has not broken the previous high. The Bollinger Bands continue to move downwards, the MACD moving average is starting to level out and move upwards, bearish volume is decreasing, and the KDJ line is moving upwards. Similarly, on the daily chart, after a high, it is likely to pull back and close with a bearish K candle. The Bollinger Bands continue to extend upwards, the MACD moving average is moving upwards, bullish volume continues to increase, and the KDJ line is moving downwards. On the 4-hour chart, the Bollinger Bands are starting to narrow, and the price has reached the middle band position. The MACD moving average is moving downwards, bearish volume is increasing, and the KDJ line is moving downwards; In summary, the current market trend is still dominated by bulls, but there is still a need for a short-term pullback. Therefore, in subsequent operations, continue to short at high levels, maintain a good defense, and wait for a low position to go long! Trading suggestion: Short at high levels!
Bitcoin: 68900-69400 Long. Target: 70300-70800
Ethereum: 2360-2400 Long. Target: 2460-2500