Bitcoin (BTC) - November 12 (Trend Check & Test-4)

١١ نوفمبر ٢٠٢٠

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Due to volatility around November 11th (November October-12), it is rising above 15699.34 points.

If it falls, we need to see if we can get support at 15699.34.
We have to see if it could lead to further upside and then move up along the uptrend line (8).

In addition, it remains to be seen if the rising BTC price can escape the downward divergence seen in the wRSI_SR indicator.
I think the trend checks and tests continue until it breaks out of the downward divergence.

If you get support and decline at 15699.34, then 15699.34 is the short-term stop loss.

The 14818.30 point is the point where trading is required to preserve profit and loss.

It remains to be seen if it can break above the 16498.05 point between the uptrend line (3)-(7), the uptrend channel segment.

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(Coinbase BTCUSD 1D chart)

It is supported at 15290.01 and is rising above 15790.88.
You need to make sure you get support at 15790.88.

On November 12, it crosses the uptrend line (4), so you need to see if volatility rises along the uptrend line (4), or is off.

If it falls at 14834.09, it is a short-term Stop Loss.

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(OKEX BTCUSDT 1D chart)

It broke above 15318.4 and is on the rise.
If support is confirmed at 15318.4, it is a possible entry point. If it falls, it is a short-term stop loss point.

We have to see if we can ascend above 16307.8 points.
You also need to see if you can climb along the uptrend line (4).

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(BTC Dominance 1D Chart)

You should check for movements that deviate from 64.63-66.39 due to volatility around November 11 (November 10-12).

If it falls below the 64.63 point and falls towards the 63.38 point, the altcoins' price is expected to show a significant rise.

If not, however, the current uptrend is only a rebound and the downtrend is expected to continue.

So, if you want to invest in altcoins, you have to respond in the short term.

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(USDT Dominance 1D Chart)

You should check for movements that deviate from the 3.760-4.390 section around 7-12 November.

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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profit
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)

GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day.
G1: Closed price
G2: Market price at the time of opening