November 1st, Wednesday evening operation strategy
Currently, Bitcoin is at the middle band of the Bollinger Bands around 105023, and the Bollinger Bands are expanding——volatility is about to increase.
KDJ currently at K49/D65/J17, the J line is almost flat, and the downward pressure in the short term is quite obvious; MACD has also crossed, with the line moving down below DEA, indicating stronger bearish sentiment. The Alligator indicator looks like it’s going to consolidate, plus there was just a large sell order of 3.2 billion USDT, the selling pressure is quite significant.
Operation strategy
Short term: Those looking to short can wait for a rebound to the upper band of the Bollinger Bands around 107600 or the resistance level between 106000-107000 to enter, setting a stop-loss above the high point of 107400, with a take-profit initially looking at the middle band of 104023, and ideally reaching the lower band of 100800.
Long term: If you can hold, don’t rush; for now, observe and wait for the price to stabilize at the middle band, and for MACD/KDJ to turn bullish before considering entry. Support levels to watch are 104023, 98888 previous lows, and the lower band at 100800.
Key point: Be sure to manage stop losses and position sizes well, don't be stubborn.
