The clouds rise as the sun sets on the pavilion, the mountain rain approaches and the wind fills the building

Hello everyone, I am trader Gege. Continuing from the last article, I provided a short-term strategy for Bitcoin. As long as it doesn't break 65,000, I suggested buying in the range of 65,600 to 66,500. The Bitcoin market plunged to around 65,550 on the morning of the 26th, and the short-term buy orders mentioned in the article were executed. Currently, there is a potential increase of 1,000 to 2,000 USD. Friends who followed the short-term strategy should have gained something. The suggestions in the article are only given as ranges because, as I mentioned, I focus more on trends than on prices.

I will gradually resume updating short-term articles. After so many years in this market, Gege's articles can always be traced back to their sources. Some friends might find my articles a bit dull because some only like to see the strategy points and are not interested in the content or thought process. It is undeniable that there are indeed such people in the market, and there are quite a few. My articles not only provide strategies and viewpoints but also offer suggestions on trading systems and mindset management. I want my followers to have a comprehensive understanding of trading and to find their own little space (holy grail) in this market.

Everyone who enters the market surely has one goal: to make money. This is the original intention of everyone entering the market, and it is the most direct and vulgar goal. I am no exception. But what is the result? Has everyone who entered the market obtained what they wanted? Of course not. Some people have experienced the cruel tests of the market and realized that their shortcomings cannot adapt to the market, leaving early. Another group of people continues to struggle in the market, although they lose more than they win, they still attempt to make a comeback and fulfill their original intention of entering the market.

The last group of people clearly understands their personality traits and also understands the uncertainty of the market. They continuously pay tuition to the market in the early stages, but they are also constantly learning and improving. This group uses money to gain experience in establishing themselves in this market, ultimately providing feedback to the market with the experience gained and earning rewards for their cognitive progress.

Any investment market's trends can be categorized into upward, downward, and sideways movements. In the trend chart, candlesticks are the traces left after the capital game, and behind each candlestick are the bullish and bearish emotions of investors. To establish your own trading system, you need to understand what kind of personality you have. If you are impatient, you should make your trades quick and short. If you are steady, you can participate more in medium to long-term trends. Different trading methods require different position management to achieve profits. Even if you are using a quick trading method, you must control your hands and reduce the frequency of trades. Take your time to experience this; I won't elaborate further. Now, let's talk about Bitcoin's market.

First, let's discuss the weekly chart. There are still a few hours until the close. If the current pattern is maintained, then if there is a rebound next week that breaks 70,000 or goes above 70,000, it must be treated with caution. The current candlestick pattern will remain unchanged until the close, which is not very friendly for short-term bulls. Of course, from a long-term perspective, my thoughts have not changed, and I won't elaborate on that here; you can review previous articles. As we approach the end of the month and the closing of the monthly line, along with the U.S. elections on November 5 and the interest rate meeting on the 8th, there will definitely be a significant impact on short-term market fluctuations, so short-term trading must have good risk control. At the beginning of next month, the weekly level's large box structure will definitely change, and I am optimistic about breaking upwards, provided it stabilizes above 70,000 again. Of course, the impact of news at the beginning of the month should also be closely monitored.

After last Friday's decline on the daily chart, with two pin bars not breaking the 65,000 line, the weekend saw a series of small bullish candles rebounding. Therefore, after the double pin test, the support at this line can still be referenced, and this is also the support area of the middle track. The only thing to note on the daily chart is that the MACD volume bars show signs of divergence. For now, I will stop here; more analysis will come after the weekly and daily closes. The short-term suggestion for Bitcoin can still follow the strategy mentioned earlier. The short-term suggestion for Bitcoin is to first use the 65,000 line as a support reference. If it doesn't break, buy in the range of 66,600 to 65,600. If it unexpectedly breaks down, wait for a rebound in the range of 64,000 to 63,000 before re-entering.

The suggestions are for reference only. Ensure proper risk control when entering the market, and manage your profit and stop-loss space accordingly. Specific strategies should be based on real-time conditions, and you can consult for details.

Alright, friends, we will say goodbye until next time. I wish everyone success in their trading and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions regarding Bitcoin, find Gege.

Written by/ I am trader Gege, a friend willing to accompany you in making a comeback.

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