$BTC is no longer a one-sided, mindless bull market. Although the crypto market is far from over, we need to view market changes more cautiously now.
【Today's Market Analysis - BTC - 11.13】
The following content is for technical analysis learning purposes only and does not constitute investment advice. Profit and loss are the responsibility of the investor.
Yesterday's operations were quite good. If one followed the daily report's guidance, buying at 88 would have yielded a profit, and buying again at 854 would have provided a very considerable overall return.
1. Daily Analysis: Yesterday's daily chart shows that the bulls still have a continuation trend. Bitcoin retraced to the FVG area of the large bullish candle from the previous day, roughly around 85, and then successfully closed. Today, the price is expected to continue to rise, with the target area between 903 and 907. The intraday retracement may occur around 868, and if the price experiences an extreme pullback, it may test the 85 area again. It is important to note that the current market conditions are not suitable for chasing longs at the current price; rather, one should wait for a pullback to enter the market. Typically, the candlesticks after an FVG retracement will show volatility, so waiting for a pullback to enter is more prudent.
2. 4-Hour Analysis: The current trend shows signs of volatility, and trading volume is gradually shrinking. Last night, the lowest point was around 85, and the lower shadow of the 8 o'clock candlestick, accompanied by significant trading volume, indicates selling pressure above. If there are no major positive factors, the price may retest around 868. If the price retraces again and shows a large lower shadow, this may indicate further testing of the 85 area.
3. 15-Minute Analysis: On the 15-minute chart, the current price is declining within a downward channel, and the trading volume is very low, so caution is needed for further downward movement.
Intraday Trading Thought: Today's market is not suitable for blindly chasing longs; the difficulty of the market has increased, so be sure not to short easily. A reasonable operating strategy is to wait for a pullback before choosing to go long, especially considering entering when retracing to the 85 and 868 areas.
