Market analysis on November 10: Bitcoin hits 80,000, altcoins surge, the second half of the bull market takes shape.

CN
1 month ago

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This wave of market movement is still very strong, surging upwards without giving a hopeful 1-hour pullback in between. There's nothing to be done; a one-sided strong market often rises all the way up, and only after reaching a certain high point does it bring about a pullback, stirring everyone's emotions. The altcoins in the past two days have also been very powerful, with most surging over 30-40%.

Since the rise from 77,000 to 80,000 was unexpected for most people, many retail investors who missed out on this wave will quickly look for low-position altcoins to leverage. Therefore, it is not ruled out that there may be a flash crash at the beginning of next week. Those using high leverage should pay attention to risks and remember to set stop-losses.

Overall, the daily level upward trend has not ended. Since the rise here is not diverging, even if there is a pullback in between, it is still a good opportunity to buy the dip. Do not overly bearish on the market; the upward structure is not yet complete.

BTC

In the short term, due to the rapid changes in the market, this article can only make predictions based on the market changes at the moment 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, the current third wave of the 1-hour upward movement is very strong and has not diverged, so there will be a fourth wave of 1-hour pullback and a fifth wave of 1-hour upward movement. Currently, for this 1-hour upward movement, first pay attention to the area around 82,000, and if it breaks through, look for 85,000. Since the 1-hour upward movement continues to extend, it will eventually come to an end. Therefore, it is expected that next week will basically see a 1-hour pullback, which can present in two ways:

The first: a rapid decline, forming a flash crash, with an expected target around 75,000. After the flash crash ends, it will start the fifth wave of 1-hour upward movement, quickly recovering. This will cause many people to have unchanged prices but lose their positions.

The second: the pullback strength remains very small, basically just a horizontal fluctuation in the range of two to three thousand dollars, lasting for more than two or three days, completing a 1-hour central structure, and then continuing to rise.

The former will cause a short-term cooling of altcoins, with a larger pullback in altcoins. The latter trend may allow altcoins to continue to surge.

15M:

At the 15-minute level, the current 1-hour upward movement has still not accepted, and the short-term is currently in the 15-minute upward movement of the central departure segment. Pay attention to the area around 82,000, and it is expected that there will be a 15-minute pullback after midnight, with support at 78,000, followed by another 15-minute upward movement continuing to surge.

ETH

The 1-hour rebound of Ethereum here may also be in an unfinished state, and in the short term, there may be a 15-minute pullback, with support at around 3,100, followed by signs of a 15-minute rebound. Currently, for the 1-hour upward movement, pay attention to the range of 3,260 to 3,300. It is expected that there will be a 1-hour pullback that may retest around 3,000 to 2,900, and then continue to rise.

Trend Direction

Weekly Level: Direction is upward, currently moving towards a new weekly upward movement, with an overall target of over 100,000.

Daily Level: Direction is upward, the daily upward movement has reached 80,000, with an upper target of 85,000.

4-Hour Level: Direction is upward, with attention on the range of 82,000 to 85,000.

1-Hour Level: Direction is upward, temporarily still in a 1-hour rebound; if it breaks below 78,000, it may lead to a 1-hour pullback.

15-Minute Level: Direction is downward, with a possibility of a 15-minute downward movement in the short term.

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

The article is time-sensitive; please pay attention to risks. The views expressed in the article are personal suggestions and for reference only!

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