Yueying: Bitcoin and Ethereum Market Analysis for November 7th - Short-term long positions should be closed out; failure to break key resistance levels often indicates a false rise followed by a true fall.

Bitcoin Technical Analysis — Bitcoin's previous move at 100800 resulted in a $1600 move. Looking at the daily chart, the previous candlestick closed bearish, retesting the lower Bollinger Band. There was a slight rebound at the opening today. The Bollinger Bands are widening, short-term moving averages are trending downwards, the MACD fast and slow lines are crossing downwards with increasing volume, the KDJ indicator found support and turned upwards, and the VR indicator is consolidating around 60. On the 4-hour chart, after being resisted by the middle Bollinger Band, the price fell consecutively before rebounding and is currently facing resistance around the 7-day moving average. The Bollinger Bands are narrowing and flattening, short-term moving averages are trending downwards, the MACD fast and slow lines are crossing upwards with increasing volume for the second time, the KDJ indicator is turning upwards, and the VR indicator is consolidating around 80. Overall, the market is in a weak structure. The daily Bollinger Bands are widening; once the downward channel is fully opened, the market will test lower levels further. The key short-term resistance is around 105,000. If any subsequent rebounds fail to stabilize at this price, the market will not be able to reverse in the short term. At present, pay attention to the 100,000 level and the previous low around 98,000. Short-term long positions can be attempted around these two price levels. The short-term resistance is around 104,000. Bitcoin short-term: Short at 103,300, Long at 100,800 (Long at 99,600). The short position at 3450 on Ethereum traded with a difference of more than 30 dollars, but the long position at 3260 traded with a range of more than 100 dollars. Currently, the overall technical indicators on both the daily and four-hour charts are consistent with Bitcoin's trend and can be used as a reference. The short-term support is still around 3200, followed by the previous low around 3100. The key resistance is around 3500. If the price cannot break through and stabilize at this level, the short-term strategy should continue to focus on shorting on rebounds. Short-term trading strategy: Short at 3430 (Short at 3515), Long at 3278 (Long at 3180) (Click the image to see the homepage introduction for more currency analysis) — I am Zhou Yueying.