Việt Cộng From Việt Nam

Market Analysis
Bitcoin has recently failed to break above the $124,000 resistance level, creating an atmosphere of uncertainty in the market. Despite the Federal Reserve’s interest rate cuts, the lack of price stability indicates that buyers are currently adopting a cautious stance, and downward pressure may continue to build.
Over the past five days, Bitcoin’s price has shown significant volatility, giving mixed signals in both market sentiment and technical indicators. On October 31, the price reached $111,190, but the bullish momentum soon weakened, and by November 4, the price had fallen to $101,497, signaling clear weakness. The RSI (7) has dropped to 21.9, nearing the oversold zone, suggesting increased selling pressure. However, the MFI (14) has moved to 41.19, entering the neutral zone, indicating a limited return of buying interest among investors.
Bollinger Bands analysis shows that the price is currently near the lower band, which often signals a potential reversal or short-term recovery. However, despite an increase in trading volume—reaching around 50,534 on November 4—there has been no corresponding price recovery, reflecting overall market weakness. The Fear and Greed Index stands at 21, representing a state of fear. While this may indicate a short-term buying opportunity, a breakdown of key support levels could trigger further downward pressure.
In terms of moving averages, the 7-day and 14-day HMAs have fallen below the current price, while the 21-, 30-, and 50-day HMAs have also turned downward—confirming a bearish trend. On November 4, the 7-day HMA stood at $104,147, while the closing price was $101,497, reinforcing the bearish outlook. If the support range between $101,420 and $100,119 breaks, the next strong support lies between $96,945 and $90,056, potentially leading to deeper declines.
Overall, the technical and sentiment indicators suggest that Bitcoin remains under pressure, with a possibility of further short-term downside. However, the RSI and Fear and Greed Index both indicate that the market is entering oversold territory, which may present a short-term recovery opportunity.
Investors are therefore advised to avoid hasty decisions and closely monitor support and resistance levels before taking positions. In the long term, the Fed’s rate cuts and other macroeconomic factors may support recovery, but for now, caution remains the best strategy in the market.
#BTCDown100k #BTC☀️ $BTC
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The price is moving in an ascending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.

We have a bearish trend on the RSI indicator that is about to be broken and retested, which supports the upward breakout.

There is a major support area in green at 0.01700, representing a strong support point.

We are heading for consolidation above the 100 moving average.

Entry price: 0.01727
First target: 0.01750
Second target: 0.01780
Third target: 0.01820

Don't forget a simple matter: capital management.

When you reach the first target, save some money and then change your stop-loss order to an entry order.

For inquiries, please leave a comment.

Thank you.