Bitworld News Report:
When you encounter setbacks, you must understand that the beginning of an upward trend often extends from a low point, because many times a way out appears only when there is no retreat.
From the 1-hour K-line chart of Bitcoin, after the Bitcoin price broke above the upper band of the Bollinger Bands, it started to retrace. However, the retracement is not significant, reaching just above the middle band of the Bollinger Bands, still quite a distance from the middle band. The MACD lines are in a wave-like pattern, with rapid changes between bullish and bearish sentiments.
The KDJ lines are crossing downward, indicating a bearish trend, but currently, it is not advisable to short the market as it is just a normal pullback after a surge. Hence, today the strategy is mainly to go long on pullbacks.
November 7, Thursday Morning Trading Strategy:
Bitcoin: Go long between 74,800 and 75,200, target 76,500, with a stop loss at 74,300.
Ethereum: Go long between 2,770 and 2,810, target 2,900, with a stop loss at 2,750.
Strategies have a coincidental timeliness, and more guidance in the market is exciting. If you can’t grasp the direction or are unsure, remember to consult me, Shuke Talks Crypto!
