On November 4th, night trading strategy


From the short-term hourly chart, the price of Bitcoin has been testing downward, and the opening of the Bollinger Bands is also getting wider. Currently, the price is running in the lower-middle part of this range, fortunately, it hasn't broken out of the range. It has slightly retraced now, roughly at the position of 104000.

Bitcoin is currently fluctuating downwards, and it has dropped quite a bit today. There is a strong sentiment for "shorting" in the short term, but the key level of 103000 has not been broken. So don't blindly follow the trend to short.

- Support is looking at 103000: As long as this level holds, there is a possibility of a stop in the decline;

- Upper resistance at 105500: If the price rebounds to this area, it is highly likely to encounter resistance.

If it drops to around 103000 and doesn't continue to fall, you can try going long with a light position, but don't go heavy; the risk is manageable.
trading strategy: Buy around 103000, target 105500, ensure defense $BTC #加密市场观察 #今日你看涨还是看跌?
BTC-7.17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)