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Today's BTC trading perspective is shared. Friends of the coin, if you have any thoughts, please advise in the comments.
Date: November 5, 2024, the shorts trend remains unchanged, pay attention to the strong support zone below.
Daily candlestick level: Yesterday's daily candlestick closed below the key long and short game level (reference price of institutional arbitrage model Closing Price, near 68393) and the EMA15 moving average. The CCI indicator did not provide a signal to stop the decline, indicating that the current shorts trend has not reversed. Pay attention to the strong support area below - the chip-intensive area (near 66900).
4-hour timeframe: The price on the 4-hour timeframe has been consistently suppressed by the EMA15 resistance. Pay attention to the strong support level below - the Vegas channel EMA233 (near 66450). If this support level is broken, the short positions trend will continue to extend further.
Lite Version
Currency: BTC
Date: November 5, 2024
Technical Analysis:
Indicators: Institutional Arbitrage model reference price + EMA15 + Vegas channel + CCI
Conclusion: The short positions trend remains unchanged, pay attention to the strong support area.
resistance level: near 68600
Support level: ① around 66900
Nearby 66,450
#BTC