Yueying: Bitcoin and Ethereum Market Analysis (November 4th) - Bearish Trend Continues, Testing Lower Levels Again; Are Long Positions at Higher Levels Doomed?

Bitcoin Technical Analysis — The short-term long position at 105500 mentioned above has the potential to move over 2000 dollars. Looking at the daily chart, the previous candlestick closed as a solid bearish candle, and the intraday opening continued the decline, testing the lower Bollinger Band area. The Bollinger Bands are widening, short-term moving averages are turning downwards, the MACD fast and slow lines are crossing downwards with increasing volume, the KDJ is extending downwards, pay attention to support near the 0 value, and the VR indicator is consolidating around the 50 value. On the 4-hour chart, the price broke below the lower Bollinger Band, the Bollinger Bands are widening, short-term moving averages are moving downwards, the MACD fast and slow lines are crossing downwards with increasing volume, the KDJ is turning downwards again, and the VR indicator is consolidating around the 80 value. Overall, the market is weak, and the strategy remains to sell on rallies. However, short-term support levels still present opportunities to enter long positions. Pay attention to the daily Bollinger Bands; if the downtrend channel is fully opened, there is still room for further decline. In the short term, watch for support around 103000, followed by the previous low. On the upside, watch for resistance around 106000, followed by 108000. See short-term suggestions. Bitcoin short-term suggestions: Short at 105800 (short at 107400), long at 103500 (long at 102200) (Take profits as needed). While the short-term long positions given above on Ethereum have rebounded, the strength has been weak. Overall technical indicators can continue to be referenced in conjunction with Bitcoin. The market is currently weak, and there is a probability of further downward movement. Short-term support is around the previous low of 3400; if this level is broken, watch for resistance around 3200. Resistance is below 3600, followed by resistance below 3700. Manage risk carefully for short-term participation; see short-term suggestions. Auntie's short-term trading advice: Short at 3580 (Short at 3650), Long at 3388 (Long at 3220) (Click the image to see the homepage introduction for more currency analysis) — I am Zhou Yueying.