Family, good morning
The market index failed to break the new high last night
Will it continue to push towards the new high today?
Data Analysis:
From the current liquidation map, it can be seen that when the market index pulls back to around 88900, it is expected that approximately $475 million worth of high-leverage long positions will be liquidated. If the market index reaches around 93500, it is expected that approximately $673 million worth of high-leverage short positions will be liquidated.
In the heatmap above, it can be seen that if the market index reaches around 92900, the liquidation intensity will reach $110 million, indicating that many people are facing liquidation risks if the market index approaches this position.
News Summary:
1. Polish presidential candidate Sławomir Mentzen: If elected, will establish a Bitcoin strategic reserve.
2. Musk: I still hold a large amount of Dogecoin, and SpaceX holds a large amount of Bitcoin.
3. NANO LABS announces Bitcoin as its strategic reserve asset.
4. The Options Clearing Corporation (OCC) in the US confirms that IBIT options will be listed and traded on November 19.
5. MicroStrategy plans to issue $1.75 billion convertible notes to buy more BTC.
Daily Analysis:
From the current market trend, the overall market index is expected to move within the range of 88500-92500 in the short term, while Ethereum is slightly stronger, moving within the range of 3050-3350, and Solana is moving within the range of 230-250.
Market Opinion:
From the daily chart, it can still be seen that BTC is overall in a sideways state, and this sideways period has lasted for several days. Although various relatively positive news reports can be seen currently, we still need to focus on when this sideways state will effectively come to an end. If it continues to stay sideways, I personally think it may not be good and could easily lead to a pullback.
Additionally, it can be seen that currently in the meme sector, most meme coins are experiencing relatively small fluctuations. The hype in the meme sector has already faded, which reflects that the market is slowly returning to normal conditions. If the market index pulls back more, it could actually present a gradual entry opportunity for those who have not yet bought in.
I still believe that the overall direction of the market index is bullish and there is still an opportunity to break through to new highs, while I also believe that the sideways state will soon come to an end.
Contract Strategy:
Long BTC near 89400, take profit near 91400
Long ETH near 3100, take profit near 3200
Long SOL near 235, take profit near 244
