BTC 11/07
-''-----
* On frame D1: Yesterday's candle D1 was a Spinning Top candle - shown by its small body and nearly equal upper/lower shadows. This candle shows the balance of supply and demand in yesterday's trading day, with no side controlling the market.
- Observing recent D1 candles, we can see that the buying force below is still strong when candles with long lower shadows continuously appear. Therefore, I still maintain the view that BTC has one more beat to increase to the 35k6-36k area (or can create a false Breakout past 36k) and then will decrease and adjust.
* Total3 Comment (Total Crypto market capitalization excluding BTC and ETH)
- After Total3 broke out above the Symmetrical Triangle model, Total3 almost reached its target set before, which was the top of the 400B isosceles triangle (I analyzed in the previous article).
- Currently, total3 is approaching the strong resistance area of 400-410B (The top of the triangle model), so the probability of Total3 correcting in this area is very high. Therefore, at this stage, the growth room of altcoins is no longer high, you should consider gradually taking profits on altcoins.
* Trading advice: Wait for the seller's signal to short BTC if BTC rises to the 35k6-36k area, expecting the price to return to test the 33k area in the short term. (If there is a false breakout signal through the 36k zone, the probability of winning will be higher
