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2026.11.6 BTC/ETH/XAU/SNDK Analysis
The market took another beating overnight, wiping out $1.25 billion and liquidating 235,346 traders; hope you weren't among them!
For bulls, in this recent market, even playing it safe makes it impossible not to lose money. In my view, losses capped at 30% in this downturn are barely acceptable. If your losses exceed 30%, rethink whether your position sizing is reasonable. As for those who got liquidated, there's not much more to say—they had no trading discipline and became pure liquidity for the market!
BTC
Market sentiment is completely in control right now. 72850 is key support after the break below 75475. If support at this level cannot be confirmed, price may break below the 70000 round-number level and even test 67135;
Price is currently consolidating in the 75475-78425 range, with violent swings and aggressive shakeouts;
For last night's trade, 75500 was the final line of defense. If price breaks below it on rising volume during the day, just stop out; if volume contracts near 75700, consider lowering your cost basis below 77000 and see if there's a chance to break even tonight. The stop-loss condition remains unchanged: if price breaks below 75500, fails to reclaim it quickly, and continues falling on rising volume, stop out;
ETH
Support: 2150/2095/2010
Resistance: 2403
Watch 2215 and 2345 during the day to see whether price breaks through on rising volume or can retest 2345 to the upside tonight. Take-profit and stop-loss approach is the same as for BTC;
XAU eventually pulled back as well, under pressure from the violent selloff in US equities. The key levels below remain the 3970-4000 zone—let's see how it plays out!
SNDK: Democrats have put forward a proposal to ban the construction of computing centers. In fact, this was the reason for the sharp plunge in July this year, when SNDK fell 59% from its high. This latest downturn has also seen a 58% drop from September's high. If it falls further, it really could reach the 500-700 range. If it gets there, a sharp rebound will likely follow. For now, just watch for signs of a bottom;
Trading suggestions do not constitute investment advice: This market is undoubtedly a great opportunity for spot buying. Don't expect an immediate reversal, but spot has reached the point where you need to start building a position; especially ETH, where starting to build a position in batches is perfectly reasonable;
In this market, you can take a loss, but don't get liquidated. Play it safe, build positions slowly, and accumulate cheap tokens—that's the best strategy!
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