On Monday, November 10, trend reversal, pullback to buy.

The Bitcoin continued to fluctuate sideways over the weekend, and last night it finally broke this sideways rhythm and welcomed an upward trend. Currently, it has reached a high of around 106,600 but is facing resistance. The previous low of 98,900 has been touched multiple times without continuing downward. Currently, there is a clear upward rhythm, and in the future market, it is advisable to participate in the upward trend.

In terms of the daily trend, the main rhythm is characterized by a downward fluctuation, with a short-term pause observed. The K-line has formed a reversal trend with two consecutive bullish candles. The short-term bullish momentum is still relatively strong, and the support around 99000 is also quite robust, having been tested multiple times without effective breakthrough, leading to another reversal. Therefore, in the short term, it is expected to rise again, and a bullish outlook can be maintained.

From a technical perspective, the current price of the currency has started to rebound from the lower band of the daily Bollinger Bands, with short-term focus on the middle band around 108000. At the same time, the attached indicator MACD shows a decrease in bearish momentum, and KDJ has formed a golden cross signal, indicating a higher probability of continued upward movement. Additionally, the 4-hour Bollinger Bands are opening upwards, and the MA moving averages are following the price trend upwards. The overall market shows a bullish state. In terms of operation, just go with the trend! Accumulate on pullbacks.

On Monday afternoon, it is recommended to go long on Bitcoin at 105000-104500, with a target of the upper range of 108000-110000.
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