Crypto Circle Early Events 🥇🥇🥇 2024-11-9

Bitcoin and Ethereum trend analysis, wealth codes, long and short ambush points...

BTC 4-hour candlestick chart:

Resistance level: around 77938～79819

Support level: around 73232～74809

ETH 4-hour candlestick chart:

Resistance level: around 3039～3144

Support level: around 2741～2826

Technical Analysis:

1. Around 3:30 AM today, the price of Bitcoin reached a new historical high of around $77199, and the 4-hour candlestick chart continues to show an upward trend along the wedge channel;

2. The daily volume indicator for Bitcoin shows a decrease in volume (be wary of the possibility of market manipulation), and the daily chart has shown three consecutive top divergence patterns, which means we should be mentally prepared for a significant correction in Bitcoin; currently, Bitcoin's various time frames continue to show a bullish trend, indicating a continued bullish outlook in the future; the short-term trading strategy remains to follow the trend, and I will not change as long as the trend doesn't change, buying on dips;

3. Currently, the Bitcoin 1-hour chart shows a top divergence pattern, and the 4-hour KDJ indicator's main force is below 80 and is trending downwards, indicating a short-term need for price correction; we should aim to buy on dips in our short-term trades, and once the price retraces to the key support levels around the 30-minute, 1-hour EMA60 moving average, or key neckline support, it will be the best opportunity to enter long positions and profit 🥰 (please ensure to use stop-losses and take necessary protective measures);

Short-term trading mindset: If the price retraces to the important support levels mentioned above, we can place light positions for long trades {Spot Trading Mindset};

Investment carries risks, and one should be cautious when entering the market; the above analysis is for reference only! You can also consider making corresponding adjustments in altcoins based on Bitcoin's correlation effects!

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