Market analysis on November 7th, the expectation for Bitcoin is to undergo a 1-hour level correction, but the overall upward trend is still not over.

CN
21 days ago

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The expectation for a rebound in Bitcoin at the 1-hour level is almost over. In the short term, we need to look for a 1-hour level pullback. If it goes smoothly, pay attention to the support around 72000. If it breaks below 72000, there is a possibility of a 4-hour level pullback. As long as it doesn't break below that, it should still push up again.

Ethereum has already started to catch up. Since October, we have been emphasizing that Ethereum's daily level rise will at least break 2830, and it has successfully done so. In the short term, the rebound is not expected to be over yet; after a pullback, it should still push up. If it breaks 2950, the key resistance above is around 3050.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes, which should only be used as a reference.

1H:

At the 1-hour level, it is uncertain whether there will be another push to 76400 before hitting a new high and then undergoing a 1-hour level pullback. We need to observe the situation in the early morning. If it falls below 73500 again, it will likely confirm a 1-hour level pullback, and we can focus on the support around 72000. As long as the 1-hour level decline can hold around 72000, there will still be a 1-hour level rebound towards 77000 or above.

15M:

At the 15-minute level, if it can hold around 74000, there should be a 15-minute level rebound towards above 76400 tonight. We can observe further. If the current pullback falls below 73500, we should directly look for a 1-hour level pullback.

Note that there is a Federal Reserve meeting in the early morning, so observe the fluctuations in the short-term market.

ETH

For Ethereum, under normal circumstances, it should still undergo a 15-minute level rebound to push towards 2900~2950. Then it will have a 1-hour level pullback, with the next 1-hour level pullback focusing on around 2700 or 2650. Theoretically, Bitcoin's 4-hour level rebound should at least go through a 1-hour level pullback and a 1-hour level rebound to conclude.

Trend Direction

Weekly Level: Direction is upward, currently undergoing a new weekly level rise, with an overall target looking at 100,000+.

Daily Level: Direction is upward, with the daily level rise still focusing on 77000; if it breaks through, then look at 80,000.

4-Hour Level: Direction is upward, with short-term resistance in the 76000~77000 range. If it effectively breaks below 72000, then look for a 4-hour pullback.

1-Hour Level: Direction is upward, and it is uncertain whether the 1-hour level rebound has ended; there is still a possibility of pushing to a new high.

15-Minute Level: Direction is upward; if it does not break below 74000, there will be another 15-minute level rise to push up.

Feel free to follow my public account for discussion and exchange:

The article is time-sensitive; please be aware of the risks. The views expressed are personal suggestions and for reference only!

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