$BTC The time for mindless long positions is over. However, the crypto market isn't finished yet; take a close look at today's position:
【Today's Market Analysis-BTC-11.13】
This is for technical analysis learning only and should not be considered investment advice. Profit and loss are at your own risk.
Yesterday, if you followed the daily report, you made a good profit on 88 and another on 854; both were very comfortable trades.
1. Daily: Yesterday's daily candle indicated that the bullish trend would continue. It retested the previous day's large bullish candle's FVG around 85. It closed with a pin bar. Today, the price is expected to surge to 90,000, roughly reaching the range of 903~907. During the day, a pullback is expected around 868, and an extreme pullback could go back to yesterday's 85. It’s important to note that you should not go long at the current price; after yesterday's pullback from the FVG, the K-line usually accompanies several consecutive oscillations. A pullback to enter long is more prudent.
2. 4H: It has started to show oscillating patterns, and trading volume is continuously shrinking. Yesterday, the lowest point was around 85, but the K-line's lower shadow from 8 PM last night had significant trading volume, indicating selling pressure above. Without a major positive catalyst, the price will test 868. The test pattern is still similar to yesterday's 85 K-line, with a lower shadow for probing tests. If trading volume remains high, it will continue to pull back to 85.
3. 15Min: The price is currently in a downward channel with declining volume, showing a bearish trend. Caution is advised.
Intraday trading strategy: Today is not the time to blindly buy long; the difficulty has increased. Carefully review the daily report, avoid shorting, and look for opportunities to buy on pullbacks!!!
