Daily sharing
In today's market, Bitcoin started from around 69000 and in a few hours pulled up to around 75000, indicating that this increase was significantly influenced by the news of the American elections. Many of us still underestimated the impact of news, so many either exited too early or got trapped in short positions midway.
In my recent market analysis, I have always emphasized that if there is news stimulation, it is possible for Bitcoin to reverse again. Technical analysis generally judges the market based on existing structures, patterns, and indicators. When the downward force significantly damages the upward structure, we tend to believe that the rebound will not surpass previous high points. However, when major news occurs, it can completely change this short-term situation, leading to a performance that exceeds expectations.
In the early hours of the 4th, I had a brief chat with group friends, explaining my personal thoughts. Of course, I got the timing wrong, thinking the result was on the 5th, later checking it was on the 6th. The market and my expectations were quite similar. Because the technical analysis tells us that the market should not break 73000 again, after a slight rebound above 70000, it will decline again. But in reality, the main force will surely use significant news to create movement. So from the 4th and 5th, I personally remained firm in going long, although that initial long position was not very smooth.
So how will Bitcoin behave after rising? Is it a new rise to 80,000, or will it fall back again soon? I think it still needs to be observed for another couple of days, at least in the short term, the upward structure here may still not be complete. Let's see the situation on Friday night.
BTC
Due to rapid changes in the market, the article can only predict the market changes at the moment of publication. Short-term players should pay attention to the latest market changes, and it should only serve as a reference.
1H
1h level, since it has broken through 73620, the structure has returned to the trajectory of the 4h level rebound that started from around 65500. This means that this second 1h pullback in the 4h level rebound is a bit stronger, but the structure has not been completely destroyed. Currently running the third 1h level rebound, pay attention to around 76000.
Afterwards, it is expected that there will be a fourth 1h pullback and a fifth 1h level rise, focus on whether the fifth can break through 77000, if it does not break, a 4h level pullback should begin. If it breaks, it will further go to around 80,000.
15M:
15-minute level, expecting a 15-minute level pullback tonight, continue to pay attention to around 72000, then there should be a fifth 15-minute level rebound, pay attention to around 76000.
ETH
The pullback of Ether yesterday was actually a continuation of the previous 4h level decline. Today, there is a possibility of a new 4h level rebound here. Pay attention to the short term to see if there is a possibility of a catch-up rise, with a chance to touch around 2800 again.
1h level, currently in a 1h level rebound, pay attention to around 2660~2700 for this rebound, afterwards there should be another 1h level pullback and a 1h level rebound, overall still looking at whether it can push to 2800 above.
15-minute level short line, if there is a pullback tonight, pay attention to the lower 2560.
Trend direction
Weekly level: Direction upwards, currently moving towards a new weekly level rise, overall target looks at 100,000+
Daily level: Direction upwards, daily level rise, overall still pay attention to 77000, if it breaks, then look at 80,000.
4-hour level: Direction upwards, the viewpoint of the 4h level pullback has been denied, short-term focus on the resistance in the range of 76000~77000.
1-hour level: Direction upwards, the 1h level rise should not be over yet, focus on 76000 above.
15-minute level: Direction upwards, after a short-term 15-minute pullback, there is still a 15-minute level rebound.
