Bitcoin (XBTUSD, BTC1!, BTM1!) - November 3
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(1D chart)
It is falling with no support at 13642.5.
We have to see if we can quickly climb above the 13642.5 point.
We have to see if we can get support and move up at the previous high of 13272.0.
Expected fluctuation range: 13272.0-14227.5
If it closes lower at 13272.0, it is a short-term Stop Loss.
I think the'Pull Back' pattern should come out at least once in order to rise higher.
I think there is a possibility that it will go down to the 12814.0 point.
This trend is expected to be noticed at least November 5-6. (Since the peak of the triangle convergence section is on November 14th, there is a possibility to sideways until around the 14th.)
If it falls below the 12814.0 point, I think trading is necessary to preserve the profit and loss.
With the wRSI_SR metric falling back below 20, we expect a bullish signal sooner or later.
It remains to be seen how strong the strength of the decline will be.
(1h chart) - short-term strategy
Among the previous short-term strategies, it ended with the SHORT strategy.
It is moving off the bullish channel, falling below the uptrend line (11).
The important segment from our current location is the 13272.0-13642.5 segment.
I think we need a strategy for the flow out of this section.
If you do sideways within the 13272.0-13642.5 section, I think it is likely to be LONG.
Therefore, we do not recommend establishing a short-term strategy as we believe that trading within the range of 13272.0-13642.5 will put a lot of psychological burden.
(LONG)
Entry point: When breaking above the 13642.5 point
Target point: 13920.0 point or higher
(However, if it rises above the 13642.5 point and falls below the upward trend line (11), it is a Stop Loss.)
(SHORT)
Entry point: When breaking below 13272.0 point
Target point: 1st 12974.0 or less, 2nd 12814.0 or less
(However, if you touch the 12974.0 point and rise above the uptrend line (10), it is Stop Loss.
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(CME Bitcoin (BTC1!) 1D chart)
Today's gap range is 13790.0-13730.0. (Not shown on the chart.)
We have to see if we can ascend above the 13735.0 point.
If it falls below the uptrend line (7) and 13600 points, it is a short-term Stop Loss.
We have to see if we can climb along the uptrend line (7).
We also have to see if we can gain support and climb from the previous high of 13480.0.
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(BTC Dominance 1D Chart)
We have to see if we can get below the 63.38 point.
Also, watch out if you'll be touching the 64.63 point.
As it has risen above the 63.38 point, altcoins' prices are expected to record a significant decline.
Accordingly, the points of support and resistance must be identified.
It is expected that there will be many altcoins that have already fallen below the short-term Stop Loss point or Stop Loss point.
If you didn't do anything when falling below these points, you need to judge the situation when the BTC dominance is falling below 63.38 and holding it.
If there is a reserve fund by proceeding partial sell-off at the short-term stop loss point and the stop loss point, it is necessary to determine whether to enter further when BTC dominance falls below 63.38 point and remains maintained.
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(USDT Dominance 1D Chart)
Touching above the uptrend line (2) showed a threatening trend.
You have to watch to see if it rises to touch the uptrend line (3).
You should also watch to see if it falls along the uptrend line (2).
The next volatility period is around November 6-11.
-------------------------------------------------- -------------------------------------------
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day.
G1: closing price when closed
G2: Market price at the time of opening
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
(1D chart)
It is falling with no support at 13642.5.
We have to see if we can quickly climb above the 13642.5 point.
We have to see if we can get support and move up at the previous high of 13272.0.
Expected fluctuation range: 13272.0-14227.5
If it closes lower at 13272.0, it is a short-term Stop Loss.
I think the'Pull Back' pattern should come out at least once in order to rise higher.
I think there is a possibility that it will go down to the 12814.0 point.
This trend is expected to be noticed at least November 5-6. (Since the peak of the triangle convergence section is on November 14th, there is a possibility to sideways until around the 14th.)
If it falls below the 12814.0 point, I think trading is necessary to preserve the profit and loss.
With the wRSI_SR metric falling back below 20, we expect a bullish signal sooner or later.
It remains to be seen how strong the strength of the decline will be.
(1h chart) - short-term strategy
Among the previous short-term strategies, it ended with the SHORT strategy.
It is moving off the bullish channel, falling below the uptrend line (11).
The important segment from our current location is the 13272.0-13642.5 segment.
I think we need a strategy for the flow out of this section.
If you do sideways within the 13272.0-13642.5 section, I think it is likely to be LONG.
Therefore, we do not recommend establishing a short-term strategy as we believe that trading within the range of 13272.0-13642.5 will put a lot of psychological burden.
(LONG)
Entry point: When breaking above the 13642.5 point
Target point: 13920.0 point or higher
(However, if it rises above the 13642.5 point and falls below the upward trend line (11), it is a Stop Loss.)
(SHORT)
Entry point: When breaking below 13272.0 point
Target point: 1st 12974.0 or less, 2nd 12814.0 or less
(However, if you touch the 12974.0 point and rise above the uptrend line (10), it is Stop Loss.
-------------------------------------------------- -------
(CME Bitcoin (BTC1!) 1D chart)
Today's gap range is 13790.0-13730.0. (Not shown on the chart.)
We have to see if we can ascend above the 13735.0 point.
If it falls below the uptrend line (7) and 13600 points, it is a short-term Stop Loss.
We have to see if we can climb along the uptrend line (7).
We also have to see if we can gain support and climb from the previous high of 13480.0.
-------------------------------------------------- -----
(BTC Dominance 1D Chart)
We have to see if we can get below the 63.38 point.
Also, watch out if you'll be touching the 64.63 point.
As it has risen above the 63.38 point, altcoins' prices are expected to record a significant decline.
Accordingly, the points of support and resistance must be identified.
It is expected that there will be many altcoins that have already fallen below the short-term Stop Loss point or Stop Loss point.
If you didn't do anything when falling below these points, you need to judge the situation when the BTC dominance is falling below 63.38 and holding it.
If there is a reserve fund by proceeding partial sell-off at the short-term stop loss point and the stop loss point, it is necessary to determine whether to enter further when BTC dominance falls below 63.38 point and remains maintained.
-------------------------------------------------- -----
(USDT Dominance 1D Chart)
Touching above the uptrend line (2) showed a threatening trend.
You have to watch to see if it rises to touch the uptrend line (3).
You should also watch to see if it falls along the uptrend line (2).
The next volatility period is around November 6-11.
-------------------------------------------------- -------------------------------------------
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day.
G1: closing price when closed
G2: Market price at the time of opening
Nota
(BAKKT Bitcoin (BTM1!) 1D chart)Today's gap is 13690.0-13650.0. (Not shown on the chart.
We have to see if we can challenge the 13807.5 point while moving in the triangle convergence section.
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