11.2 Zhang Lihui: Bitcoin Market Analysis and Trading Suggestions:
Looking at the Bitcoin market, after breaking above the MA80 last night, it has once again retreated below the MA15. Currently, the Bollinger Bands are contracting downwards, with the upper band turning down sharply, and the upper highs are being suppressed. The MA30 and MA60 continue to move downwards, including the MA80, which is also trending down. The MA120 continues to rise unchanged, and the MACD is still expanding below the zero line, with the fast and slow lines forming a death cross again, indicating that the short-term bearish trend is not yet over, while the medium to long-term bullish pattern remains unchanged;
The 4-hour Bollinger Bands continue to contract, with the upper band having crossed below 72000, so the new highs everyone is hoping for may need to be put on hold for now. Currently, the K-line has support from both the MA60 and MA80. The lower band mentioned yesterday is forming a rise near the MA120, so the downside space will not be too large. The upper side can focus on the upper band and the pressure points where MA30 and MA15 intersect; below the zero line, the volume continues to decrease, but the strength is not very strong, and the fast and slow lines are also in a less obvious contraction pattern. It is expected that the bearish trend will continue to grind, and with the weekend possibly seeing slow market movements, those with positions should be patient;
On the daily level, the Bollinger Bands are still contracting. The current K-line has retreated to the support zone between the middle band and MA15, which can still be used as a light long entry point. The lower band and MA30 are actively rising; MA30 can serve as a backup replenishment point. The fast and slow lines continue to contract, and we continue to watch the fast line approaching the slow line;
Based on the above indicators, Lihui believes that the short bearish trend is not yet over, and the bullish trend still exists. It is advisable to focus on light longs during the low retracement; do not enter short positions unless the highs are broken. As for specific operations for short positions, please refer to real-time strategy notifications!
At 4:40 AM Beijing time on November 2, the suggestion is to consider light longs in the 68700-69100 range, with a stop loss at 67900; targets are set at 69900-70700-71400, and if it breaks above the 71500-71800 range, it can be held until around 72500;
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and the suggested points in the article are for reference only. Please do not operate with heavy positions, and ensure to set take profit and stop loss levels when entering the market. Take profits when the situation is favorable!
I, Lihui, interpret global economic news and analyze major trends in the cryptocurrency world. During my studies in the U.S., I have conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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This article is exclusively published by (WeChat public account: Zhang Lihui) and is for reference only. Risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, draw wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's trials, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey filled with challenges and opportunities!
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