November 2, 2024, 8 AM. Hello siblings, here's the work report:
Will the market continue to decline? The structured trading system has monitored the overall situation, grasping the trends of individual currencies to make better judgments.
Monitoring Binance's 330 altcoin entry signal alerts:
Compared to 23 alerts at midnight, there are 11 alerts at 8 AM.
The market is recovering, and entry signals continue to appear.
Overall market summary: Short-term consolidation looking for support.
The 4-hour price continues to test for support below the daily line. At this position, it is necessary to establish a bullish divergence while issuing entry signals. Under the weekly and monthly structure, it will open up for further increases.
Market weekly structure: Weekly structure appears, remains intact.
Market monthly structure: Monthly structure appears, initially forming, needs strengthening.
Ethereum overall summary: Short-term consolidation looking for support.
The 4-hour price has broken below the daily line looking for support. The trend is weaker than the overall market, but a 4-hour level bullish divergence is forming with recent lows. If it stands above the daily line again, it will trigger a new rally.
Ethereum: The weekly structure is complete, and there is no monthly structure.
Altcoins overall summary: Mid-term searching for support levels, brewing structure.
Monitoring range: 330 altcoins on Binance.
Comparison of the structure of 330 altcoins yesterday and today:
Weekly structure: 39/38 Slightly decreased in quantity.
Monthly structure: 33/30 Slightly decreased in quantity.
Weekly monthly structure: 18/19 Slightly increased in quantity.
The summary is:
The market, Ethereum, and altcoins are searching for support levels. After a collective weakening of altcoins, they are beginning to brew structure. Under the circumstance of the market's weekly and monthly structure appearing, the market is experiencing high-level fluctuations this month, guiding altcoins to form a synchronized structure.
In terms of operations: Please refer to the article for structural positions. It is recommended to spread funds across multiple coins to increase risk resistance. Do not invest all in one coin. If afraid of missing out, you can slightly invest a small amount at a higher entry price to build a base position, while other funds continue to be placed in the price range.
Trading logic: Enter fully when structure appears, exit gradually when structure disappears, and wait in cash when there is no structure.
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Weekly live analysis of altcoins, please pay more attention 🙏
Note ⚠️ All sent signals are personal experiences and should not be considered investment advice. Trading carries risks, and entry should be cautious.