$BTC Midday Analysis: Released on November 3 at 13:58

Last night during the live broadcast, I made a short position at 3858 for a quick profit. Before ending the broadcast, I mentioned that the high point around 3890-3910 is the most cost-effective for shorting. Those who followed along also made a good profit. LTC at 98.5 heading south is currently also in profit. Here, I congratulate the brothers who kept up with Rui Ge's rhythm! With Rui Ge, not only can you get precise entry points, but you can also learn trading strategies, and I occasionally provide course materials as benefits for everyone. If you like the host, give a follow and take a look! See if it’s worth subscribing! Thank you all for your support!

First, we see Bitcoin. Last night, it was mentioned that Bitcoin can only continue the bullish trend if it stays stable above the 111200 line. Otherwise, it will continue to drop. The closing line at 12 o'clock was at the 110070 point. Although there was a surge in the morning, it was like hitting a rock with an egg, followed by a drop all the way down to the 107300 line. The daily line closed at 110500 in the morning, and since it has not stabilized above 113000, we still expect a decline. The daily line is expected to operate normally for another 1-2 days. We are focusing on the support level at 105681. Currently, the downward momentum has not weakened, and it is recommended to wait for a stabilization before bottom fishing. On the 4-hour level, we will focus on 109604-112444 above and 107125-104891 below. In the evening, we look for a rebound. The operation suggestion for Bitcoin is to move south around 108895-109604.

Secondly, the second pancake mentioned last night that it can only drive its daily line if it stabilizes above the 3900 line. We will see if it can hold above 4000; if so, we can continue to increase our positions from the bottom at 3678. Conversely, if it falls below the 3860 line, a correction will be triggered at the 4-hour level. Consequently, we will have to continuously raise our take profit and stop loss for the long position at 3678. This morning, the upward momentum of the second pancake was stronger than that of the first pancake. It has also put in a lot of effort to scare the shorts. The daily line closed at around 3905, which has limited overall reference value. Key support below is at 3632. In the next 1-2 days at the 4-hour level, focus on the upper range of 3823-3967 and the lower range of 3683-3545. Currently, the downward momentum is quite strong, and it has not been able to stabilize. Tonight, after the rebound, we can aim to move south around 3800-3850! Good luck to everyone!
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